Japan

Singapore’s DBS Bank has made headlines for a series of high profile changes this week, including its decision to establish a securities business in Japan.

Société Générale has appointed new group country heads for Japan and Switzerland, according to a statement from the bank on Tuesday.

DBS is establishing a securities business in Japan to help investors grappling with the low interest environment in the country earn better returns in the rest of Asia.

Credit Suisse has appointed Masahito Shimada as director and head of equity capital markets and Yuhiko Yano as a managing director and head of corporate coverage in Japan.

Qatar's Commercial Bank has signed a $166m loan from a group of Asian lenders, mostly Japanese, extending a trend of Middle Eastern borrowers heading east for cash.

Softbank, the Japanese technology and telecoms group, has taken a ¥1tr ($9.5bn) loan for its £24bn acquisition of Arm Holdings, the UK firm which designs mobile phone chips. The loan could be syndicated to non-Japanese banks if the refinancing strategy requires it, said one senior banker.

In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.

Big moves in credit, equity and foreign exchange markets this week were magnified by mass unwinding of previously popular trades as investors capitulated to a reversal of fortunes for Japan and European banks.

Simon Galvin has left Goldman Sachs to join Deutsche Bank as head of ECM syndicate Asia, filling a role left vacant since March, according to sources close to the move.

Citi has named Jason Rekate as its new head of the corporate banking division in Japan.

The result of the UK referendum on EU membership is likely to encourage Japanese triple-A investors to focus more heavily on US CLO paper, said CLO market participants this week.

Barclays has made several senior appointments to its Asia Pacific and EMEA syndicate teams, combining its bond and loan platforms.