Commonwealth Bank has sold part of its CommSec business but says the CommSec retail broking business remains core to its strategy and will be retained.

The bank has sold wholesale broker Ausiex, which trades as CommSec Adviser Services, to Nomura Research Institute for $85 million in cash.

The divestment does not include the Accelerator Cash Account and investment lending products, which are offered under the CBA banking licence and will continue to be offered by CBA.

Nomura Research Institute chief executive Shingo Konomoto said in a statement: “We have great ambitions to grow the business and are focussed on delivering long-term value for institutional and advised clients.”