JP
Company: Citigroup
The M&A job market in Japan seems strong in the long term
The M&A outlook seems positive in Japan as local businesses are expected to take advantage of an appreciating yen by acquiring more companies overseas. There were 800 cross-border takeovers in Japan last year, valued at US$89bn – the highest number of these transactions since 2000, according to Bloomberg. Its report last month also cited both [...]
Foreign bankers flee Tokyo for Singapore and Hong Kong. Japanese work on
Singapore and Hong Kong are the most popular Asian destinations as foreign bankers flee Tokyo. And rather than putting jobs in jeopardy, firms are accommodating individual, temporary requests to relocate. However, the main danger for employers is that some experienced expats may decide never to return, say headhunters. “With expats being encouraged to go home [...]
J-banks give hiring hope to asset management sector
Citigroup has agreed to offload its Japanese fund management business, Nikko Asset Management, to Sumitomo Trust & Banking in a move that highlights both Citi’s continued woes and the increasing importance J-banks seem to be placing on investment products. But does increased importance mean increased asset management job opportunities? Junko Kannami, a managing consultant at [...]
Equity researchers: an endangered species
Equity researchers in Japan are rapidly becoming an endangered species. UBS and Citigroup are among the globals that have cut into their research teams, while HSBC has ditched equity research in Tokyo altogether. But the plight of the equity researcher doesn’t stop there. Equity researchers are being cut across all distressed securities houses and investment [...]
Barclays bucks the firing trend
Most foreign investment banks have been cutting headcounts in Japan, but Barclays seems set on a staffing expansion, all be it a modest one. The British bank, which is planning about 4,500 job cuts globally this year across its divisions, announced the addition of 10 staff to its Barclays Capital investment banking team in Tokyo [...]
Staff await fate if Citi sells Nikko
Rumours are rife in Tokyo that Citigroup is about to offload some of its Japanese units barely one year after investing US$15bn on beefing up its Japan business. A recent Reuters report suggests its brokerage Nikko Cordial Securities and investment firm Nikko Asset Management could be sold to one of the major local players. Mizuho [...]
Another wave of layoffs on the way?
Bloomberg reported recently that Citigroup has started to shed staff at its investment banking unit, Nikko Citigroup. According to the report, at least 10% of Nikko Citigroup’s 1,600 staff will face the axe, with 16 positions already cut from the unit’s equity research department. Nikko Citigroup spokesperson Naomi Watanabe declined to comment on the cutbacks, [...]
Redundancies big in Japan
Western banks have been taking the axe to their teams in Japan, and there is little sign that the blood-letting will end any time soon. Much as in Europe and the US, fixed income positions have been taking a battering in Japan, point out recruiters. “Morgan Stanley and Merrill Lynch have both made a lot [...]
Follow eFinancialCareers
What is RSS?
Advice
