The Royal Bank of Scotland has reeled in a fixed income marketing team from TD Securities in Tokyo in a bid to bulk up capabilities in Japan. The move is the latest significant effort to grab market share: RBS recently established an equity derivatives desk and bagged a team from BNP Paribas to staff it (DW, 3/3). A substantial number of additional hires for the derivatives business are still in the works, noted market officials. RBS has an ongoing commitment to the Japanese market across asset classes, said Lee Knight, ceo at RBS Securities Japan in Tokyo, declining further comment.
In the latest wave, Sanjuro Takeuchi has been tapped from TD to fill a new role as head of derivatives marketing, responsible for developing rates and other derivative products. He is joined by Yuka Arasaki and Tatsuya Kurokawa, marketers at TD, who now report to Takeuchi. Additionally, Toshio Haruki joins for financial institutions coverage and Shinichi Gake joins for structured products distribution. Takeuchi and Haruki now report to Masahiro Ohshiro, head of global banking and markets sales for Japan and Gake reports to Masahiko Hamada, head of regional institutions coverage.
Additionally, Scott Nygaard, director in the global finance department at Deutsche Bank in Tokyo, has joined RBS in a new position as head of short-term interest rates, responsible for short-term interest rate and repo trading and financing and Peter Spee, head of options and exotics for Asia-Pacific in Hong Kong at RBS, is relocating to Tokyo to overlook the expansion in Japan.