Kiwi upstart boutique Jarden is in talks with Nomura to partner up in Australia having recently dissolved its long-standing strategic alliance with Credit Suisse.
The negotiations are still at an early stage and no details have been agreed so far, according to a source. The talks were first reported by the Australian Financial Review.
Nomura's on-the-ground investing banking presence in Australia is limited, comprising mostly sector bankers, although the Japanese broker brings with it a sizeable balance sheet.
Meanwhile Jarden has recently hoovered up a lot of top investment banking talent in Australia having announced plans to expand there in May.
Its hires include Robbie Vanderzeil and Aidan Allen, two UBS veterans, and Sarah Rennie, formerly head of ECM in Australia at Goldman Sachs.
Jarden, which was bought out by the firm's management from Credit Suisse in 2002, announced last Friday that it was ending its 30-year alliance with the Swiss investment bank.
The boutique firm also recently landed its first Australian client, advising Home Consortium on its A$140m (US$100.6m) institutional share placement last month alongside Goldman.
Credit Suisse had advised on the property owner's A$300m IPO alongside Goldman and JP Morgan the year before.
Nomura declined to comment. Jarden could not immediately be reached for comment.