UBS Targets Japan's Regional Banks With Senior Sales Hires [Yahoo! Finance Canada]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Former HSBC Holdings Plc banker Shuhei Sanada joined the Swiss lender's Tokyo brokerage arm on Jan. 1 to lead sales for regional financial firms, according to a statement. Eiichiro Yoshida from Nissay Asset Management Corp. and Hiroaki Sato from Barclays Plc also started at UBS Securities Japan Co. on the same day. “This investment in broadening our reach underlines UBS's commitment to the Japanese market,” Naohiro Kuroda, co-head of global markets in Japan, said in an emailed response to Bloomberg News. The trio will help the firm “bring our ideas and capabilities to a much wider client base,” he said. International lenders are competing in Japan to recruit bankers who have close ties with local financial institutions. They are seeking to capture demand for products including securities made of derivatives that could offer extra returns to compensate for limited lending margins. Regional banks are also looking for risk-hedging and financing solutions.
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