In these times of banking bailouts and gloomy results, it’s refreshing to read about a firm that is bucking the trend. Nomura Holdings Inc unveiled its biggest profit in nine quarters on Wednesday, suggesting that its push into overseas bond and equity markets is paying off.

But as Sadeq Sayeed, chief executive for Europe, the Middle East and Africa, told reporters on a conference call, it doesn’t take much to get clients to transact with an investment bank. “They will trade with you if you provide them with systems, prices, liquidity and clear and careful settlements,” he said.

Nomura’s mergers and acquisitions business is expected to take longer to mature. “The fact that we are even in the top 12 (for European M&A) is quite remarkable given that we were essentially a start up in the investment banking world as of January this year,” Sayeed added. 

And his ambitions for the M&A team this time next year? He wants the bank to be the very best when it comes to business related to Asia and cross-border M&A in its chosen sectors.

For a glimpse into Nomura’s thinking about the US, have a look at the story I wrote earlier.

Japan’s Monex Group will buy the securities unit of Orix Corp for about $246 million in stock, in a deal that will create the country’s second-largest online broker.

By forming a broker with more than $23 billion in client assets they will be able to cut systems and other costs and beef up product and service line-ups, they said.

In other M&A news reported by Reuters and other media:

Speculation about a possible takeover of UK retailer Debenhams was raised after private equity firm TPG sells its 9 percent stake, the FT says.

Matalan, another UK retailer, is being circled by KKR, Blackstone, Cinven and TPG, the FT adds.

GSI Commerce agrees to buy e-commerce company Retail Convergence for $180 million in cash and stock, to strengthen its online sales platform.

Liechtenstein-based LGT Bank would be interested in BHF Bank, a unit of Sal. Oppenheim, were it to be put up for sale, an executive at LGT tells German daily Handelsblatt.

Deutsche Boerse is the frontrunner to the Warsaw Bourse, the WSJ says.

Japanese banks Sumitomo Trust and Chuo Mitsui Trust Holdings are in merger talks, two sources familiar with the matter tell Reuters, bringing together two struggling trust banks to better compete in Japan’s lucrative asset management industry.

Sumitomo Trust, Japan’s fifth-largest bank, this month completed a deal to acquire to acquire Citigroup’s Japanese asset manager Nikko Asset Management for $1.2 billion.

In other M&A news reported by Reuters and other media:

Bank of New York Mellon sees more acquisition opportunities in Europe than in Asia, the head of the world’s largest custodian of financial assets tells Reuters. European financial firms have been harder hit by the global economic crisis than their counterparts in Asia and are refocusing as a result.

Diversified U.S. manufacturer United Technologies Corp is the favourite in the bidding for General Electric’s security business, Bloomberg reports.

South Korea plans to sell a minority stake in third-ranked banking group Woori Finance Holdings in a block trade next month, Yonhap reports, in a deal that could bring in about $800 million and trigger more consolidation across the sector.

China’s Sinopec has offered to make a joint bid with Ghana’s national oil company for Kosmos Energy’s stake in the huge Jubilee oilfield off the coast of the country, the Wall Street Journal reports.

Dutch bancassurer ING says it will split itself in two as part of a restructuring deal with the European Commission, transforming itself over the next four years into a smaller Europe-focused bank.

It is also launching a 7.5 billion euro rights issue to pay back 50 percent of its aid from the Dutch state early.

Also in the Netherlands, brewer Heineken has held discussions to buy the brewing operations of Mexican conglomerate Femsa, the Financial Times reports.

In other M&A news:

UK budget retailer Matalan has had offers from private equity firms that could value it at around 1.5 billion pounds, according to several reports.

Indian state-run telecoms firm Bharat Sanchar Nigam (BSNL) regards a $13.7 billion price for a 46 percent stake in Kuwait’s Zain Telecom is expensive, the Business Standard reported, citing the firm’s chairman. For the Reuters story click here.

Lloyds Banking Group’s private equity unit LDC is in talks to acquire legal outsourcing company CPA Global for 400 million pounds ($666 million), the Financial Times reports.

Talk continues to swirl around Kraft’s potential bid for Cadbury. On Thursday Reuters reported a top shareholder in the British confectioner would accept 820 pence a share — well above Kraft’s first cash and shares offer but only a little higher than where the stock has been trading in recent days.

Activist investor Nelson Peltz, who has stakes in both Cadbury and Kraft, may now become a factor, a report says. A contractual obligation not to criticise Kraft’s management comes to an end on Friday. Will fireworks ensue when the gag is removed?

Other deal-related news in Friday’s papers include:

* BP Plc (BP.L) has had talks with Ghana’s national oil company about a possible joint bid for Kosmos Energy’s stake in the huge Jubilee oilfield off the coast of the country, Bloomberg said, citing two people familiar with the matter.

* China Resources Enterprise Holdings (0291.HK) is expected to sell its non-core assets to fund its acquisition of a hypermarket in China from its parent for up to HK$7 billion.

* More details are emerging of an IPO for fund manager Gartmore, which may be seeking to raise 500 million pounds from investors.

Insurance companies are the focus of many deals pages on Thursday, with Prudential eyeing a listing in Asia, AXA moving to sell a stake in China’s Taikang and Aviva detailing its restructuring now the Delta Lloyd IPO is moving.

Other deal news today includes:

* South Korea’s Korea National Oil Corp (KNOC) has agreed to buy Canada’s Harvest Energy Trust for C$1.8 billion, the Canadian company said.

* Brazilian telecoms company GVT hired the local investment banking units of Credit Suisse and Goldman Sachs to help it respond to takeover attempts by two global rivals.

* Zambia has eight suitors remaining in the hunt to buy Zamtel, Zambia’s fixed-line telephone operator, a source told Reuters.

With just over two months to the end of the year, there is a sense that time is running out for getting deals done in 2009. Many of the long-running deal sagas are coming to a close, or are getting done. Overnight, news emerged that BAA has finally agreed a 1.5 billion pound sale of British airport Gatwick.

Other deal news in the papers on Wednesday include:

* U.S. Bancorp is eyeing FBOP Corp, an owner of eight banks that may be put up for sale by the Federal Deposit Insurance Corp (FDIC), the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

* National Express’s largest shareholder, Spain’s Jorge Cosmen, supports a merger proposal by British bus and rail operator Stagecoach, the Financial Times reported.

The end of the year looks set to be full of news of rights issues and IPOs as share investors are offered a bet on next year’s economic recovery.

The travails of UK transport firm National Express fill many of Tuesday’s business pages, with rivals First Group and Stagecoach both in the frame for a bid, while the debt-laden company finalises plans for a rights issue. For other Reuters stories on deals, click here.

Other stories in Tuesday’s newspapers include:

- Private equity firm Cerberus Capital Management is in advanced preparations to take rifle and ammunition maker Freedom Group Inc public, the Wall Street Journal reports.

- India’s Reliance Capital is entering into a strategic alliance with Japan’s Daiwa Securities to set up an investment banking business in India, the Economic Times reports.

A consortium led by Spain’s Cosmen family has decided against making a takeover offer for National Express after spending a month poring over the British bus and train operator’s books, Reuters reported on Friday.

In other news:

Stricken Dutch bank DSB failed to reach a deal with major Dutch banks in late night talks on Thursday aimed at finding an option for DSB’s survival, Dutch media reported.

China Merchants Bank, which is raising 22 billion yuan ($3.22 billion) through a rights issue, won’t unveil new fund raising plans over the next three years, the China Securities Journal reported on Friday, citing president Ma Weihua.

Cisco Systems plans to buy advanced wireless equipment maker Starent Networks Corp for $2.9 billion to boost its product offerings as phone carriers build out next generation networks, Reuters reports.

In other stories on Wednesday:

Royal Bank of Scotland Group is considering a government-backed plan to give up all 312 of its RBS-branded branches in England and Wales in a move to satisfy European authorities, the Financial Times says.

Las Vegas Sands, which is seeking to raise up to $2.5 billion by listing its Macau assets on the Hong Kong stock exchange, could launch the initial public offering by late November, the South China Morning Post reports.

Major U.S. banks and securities firms are on track to pay employees about $140 billion in total compensation and benefits this year, the Wall Street Journal says, citing an analysis of securities filings for the first half of 2009 and revenue estimates through the end of the year.