Nikko Citi Plans Credit Boost

Nikko Citigroup is looking to hire two additional credit derivative structurers for its Tokyo-based desk. An official at the firm said it plans to expand its four-strong team now because tight spreads have caused its clients to move out of plain-vanilla products into more structured trades in search for wider spreads.

Yoshito Matsuura, head of credit derivatives in Tokyo, who is responsible for the effort, did not respond to messages.