2026 - Investment Banking Off Cycle Internship – Milan

Who we are

Nomura is a global financial services group with an integrated network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through our three business divisions: Retail, Wholesale (Global Markets and Investment Banking) and Investment Management.

Driven by the insights of some 26,000 people worldwide, we put our clients at the centre of everything we do, delivering unparalleled access to, from and within Asia.

Investment Banking overview:

Nomura's Investment Banking Division provides advisory and capital-raising solutions to corporations, financial institutions, governments and public-sector organizations around the world. Our global teams act as geographic, product and industry specialists.  We connect clients directly to Asia, accessing deep pools of liquidity and dynamic growth markets.

In EMEA, we operate across targeted industry sectors and in most major European countries to deliver strategic advice to clients wishing to acquire, combine or sell businesses or looking for financing and risk management solutions.

Programme overview:

Internships are a great opportunity to experience first-hand the possibilities of a career in banking. It is your chance to get a feel for our culture, create new networks and gain valuable on-the-job training. Internships are also the perfect preparation for a subsequent full-time role. Nomura will extend full time offers to strong performers.

What's your role?

Investment Banking interns are placed in the Italian coverage team. The internship will last for 6 months, and successful interns can receive a full-time offer subject to performance throughout the period.

Nomura's Italian coverage team capitalizes on a longstanding track-record of successfully executed M&A transactions, leveraging on a dedicated team with significant IB expertise based in Milan. Recent transactions include the advisory role to Bain Capital on the acquisition of Namirial, TPG Rise on the acquisition of Sicit, Phoenix Tower International / Blackstone on the acquisition of Cellnex Ireland, Enel on the sale of their US storage unit. The team covers all sectors across Italy, hence the learning curve for an intern is particularly steep.

The team works in strict cooperation with other Nomura's teams who provide country and industry expertise on an opportunistic basis, supporting local team from the origination to the execution phase. The Italian coverage team also works alongside other Nomura's product teams to address client needs with a full IB proposition.

As part of this team, you will:

• support senior colleagues on the preparation of process documentation, valuation analysis and preparation of M&A pitches
• receive first hand exposure to origination and execution projects with a rapidly increasing level of responsibility
• cooperate with Nomura colleagues based in other geographies
• develop strong presentation and analytical skills, through daily use of Microsoft PowerPoint and Excel

What are we looking for?

At Nomura our goal is to attract and develop exceptionally talented people who share our passion for individual excellence and our commitment to teamwork. We recruit graduates and interns with a high level of academic and extra-curricular achievement, who will be able to withstand the rigours of a rapidly changing, demanding but ultimately rewarding environment.

Fluency in Italian and English is essential.

How to apply

Please note that you can only submit one application per recruitment year (Sept 2025 – Aug 2026) and all applications must be submitted online via

To apply for the 2026 off cycle position, candidates should be available for full time employment in July 2026 or 2027. We accept applications for this programme from penultimate year students (graduating 2027) and final year students graduating 2026.

Please clearly state the dates of your availability for an internship in your application as we recruit on a rolling basis for this vacancy.

For further information about Nomura, please visit

Deadline dates

We recruit on a rolling basis and encourage applicants to apply early.

For further information about Nomura, please visit 

Diversity & Inclusion

Nomura is committed to an employment policy of equal opportunities, and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation. If you require any assistance or reasonable adjustments due to a disability or long-term health condition, please do not hesitate to contact us.