WestLB Securities recently established a cross-asset class structuring and origination department in Tokyo and has hired Takamichi Kizu, senior v.p. in fixed income at Lehman Brothers in Japan, to head the effort. Kizu, who started earlier this month as an executive director in the global financial markets division in Tokyo, said he worked in a variety of roles within the fixed income group during his 10-year tenure at Lehman, including structuring, origination and sales.
"This represents a further integration of our business and [demonstrates] our emphasis on structured products," said Richard Gordon, head of global financial markets in Tokyo.
Structuring previously was facilitated out of the firm's trading and sales groups. In recent months, however, WestLB integrated its asset-backed securities and Japanese investment banking practice into the global financial markets division, providing an impetus to place all origination and structuring under one umbrella. The new department will sit alongside the sales and trading desks. Kizu will likely expand the team in the coming months, he noted, declining to elaborate.
Hyung Soon Lee, Asian head of fixed income at Lehman in Tokyo, did not respond to voicemail messages.