Nobuho Nanjo has been made chief executive of MUFG Securities EMEA, succeeding Chris Kyle, who is retiring.
Nanjo (pictured) has worked at MUFG for more than 30 years, since last year as head of strategy for MUFG Securities EMEA (MUSE).
He has also been general manager of the global markets business planning division and deputy head of global markets at Mitsubishi UFJ Morgan Stanley Securities.
Meanwhile, Masatoshi Komoriya, deputy regional executive for the Americas, will become chief operating officer, international for Mitsubishi UFJ Securities Holdings.
Both appointments took effect on April 1.
Nanjo reports to Komoriya, and locally to Eileen Taylor, chair of the board of MUSE.
Kyle began his career at Dresdner Bank in 1989, briefly moved to Barclays in 1999 and then spent 14 years at Royal Bank of Scotland, in roles including CFO of global banking and markets. He joined MUFG in 2014 as international CFO and became CEO of MUSE in 2022.
In a statement, Nanjo said MUFG was “accelerat[ing] its integration across our bank and securities business”.
Japan requires quite a strict separation between securities and banking businesses in the same group, but the regulator has relaxed the rules for operations outside Japan.
All three leading Japanese banks have been taking advantage by gradually integrating their securities and banking firms in the UK and European Union.
MUFG has for some time been promoting integrated operation of its global corporate and investment bank, housed in its bank, and global markets, which is part bank and part securities house.
In its annual report for the year to March 2024 it said that, in its pursuit of a “Bank/Securities integrated platform” it would “consider transferring overseas securities entities” from Mitsubishi UFJ Securities Holdings to MUFG Bank.
This would exclude the US, where MUFG Securities Americas is already under Mitsubishi Americas Holdings Corp, its US bank.
There have been a number of leadership changes at all three banks as this process moves forward.
This week GlobalCapital reported that Mizuho had hired Matthew Ponsonby from BNP Paribas as its new head of EMEA CIB and president and CEO of Mizuho International, to start in October.
At SMBC, Hideo Kawafune became CEO of the EMEA division in April 2023 and Elena Paitra was made head of corporate and investment bank EMEA in April 2024.