Japan

It was a tale of two interventions this week, as Japan underwhelmed markets with its stimulus plan while the Bank of England delivered more than expected, in moves that also sent the yen and pound reeling in different directions.

Orlando Faulks has been appointed head of corporate finance for Japan at Deutsche Bank starting November, as Ken Kawashima plans to go back to his previous job.

Deutsche Bank has appointed Orlando Faulks as head of corporate finance for Japan starting November, when Ken Kawashima returns to his old position.

Nomura saw a Brexit-related bounce in its fixed income division when it reported its quarterly performance on Thursday, thanks to a healthy dispersion of client trading views. But the bank’s European operations still delivered an overall loss.

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.