Bank of America has transferred Chuck Doherty, head of global exchange arbitrage in Chicago, to Tokyo to assume the role of Japan head of global markets, looking after trading and marketing for its fixed income division. Doherty noted that he is replacing Kenichi Tatsuzawa, who recently resigned (DW, 9/24) and will start officially in Japan next month. Doherty said he will continue his role as head of global exchange arbitrage in addition to his new duties. He added that he is no stranger to Japan, having worked there previously for six years. Doherty referred further queries to the press office.
Officials at the firm said the global exchange arbitrage business is a proprietary trading group that primarily looks at exchange-traded instruments.
"There was a big vacuum to fill after Tatsuzawa," said a headhunter in Tokyo. Although BofA has had setbacks this year in Japan, such as the closure of its equity desk (DW, 3/31), it is still looking to build up the business, he continued.
