Nomura Elects American to Board

Nomura Securities Co., the world’s largest brokerage, has become the first Japanese financial company to name a foreigner to its board, a Nomura spokeswoman said Thursday.

Max Chapman, co-chairman of Nomura’s U.S. unit, Nomura Securities International Inc., was elected to the parent company’s board at a shareholders meeting late last month.

The meeting also approved an expansion of the board to 45 from 40 members.

Chapman joined Nomura Securities International in October, 1989, after leaving the post of president of Kidder, Peabody & Co.