Daiwa Securities Group Inc. is mulling setting up an M&A advisory office in Milan after pulling out twice in the past, Reuters reported Dec. 26, citing CEO Seiji Nakata.

His comment came after Daiwa Securities announced Dec. 20 that its acquisition of a 100% stake in Spanish investment bank Montalbán Atlas Capital SL for an undisclosed sum.

Nakata added the Japanese brokerage plans to hire more bankers and open more offices in Japan and globally in order to be more competitive in mid-market deal advisory sector.