Macquarie Bank is planning to hire two equity derivatives traders in Tokyo and will also hire structuring and marketing professionals. Ottmar Weiss, executive director, head of equity markets in Sydney, said the new positions reflect Macquarie's commitment to gradually expanding its presence in Asia. He declined to specify how many marketing and structuring professionals it will hire or the current size of its Tokyo team. In Japan, Macquarie operates through a partnership with domestic giant Mizuho Securities.
The Australian bank believes this is a favorable time to hire because bonuses have just been paid, making it easier to lure talent, Weiss said. Japanese equity markets have in recent months undergone a downturn, which has reduced competition for quality traders, he added. Macquarie believes the Japanese equity derivatives market, Asia's largest, will rebound in the medium term.
