JP
Sector: Equities
Foreign banks do more equity underwriting but don’t need more bankers
Foreign investment banks are grabbing a bigger share of Japan’s equity underwriting market. But that isn’t translating into increased hiring. As Japanese firms look to sell more stock overseas, i-banks such as Goldman Sachs and JP Morgan have cashed in. According to a Bloomberg report, in the last 12 months Goldman Sachs has surged from [...]
Equity researchers are on the rise
Foreign firms in Tokyo are beginning to increase their equity research hiring. And though much of the current activity is for replacements or upgrades, recruiters are hopeful that some serious expansion might be just around the corner. “Our clients are presently predominantly looking for experienced analysts, but we expect interest to increase quite dramatically, at [...]
Nikko is upping its numbers
Nikko Cordial Securities, the brokerage and investment banking unit of Sumitomo Mitsui Banking Corporation, has announced plans to increase global staff numbers by 14 per cent (about 1,000 people) between now and the end of March 2013. According to a Bloomberg report, the hiring surge is aimed at tapping into what the firm expects will [...]
BoA is expanding in equities, others aren’t
Bank of America is expanding its Japanese equity business by bulking up staff numbers at its Merrill Lynch Japan Securities unit. The expansion comes at a time when most of BoA’s global rivals are scaling back their equity operations in Japan, but the firm says it believes the current downturn is the perfect time to [...]
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 [...]
Equity jobs to go at Goldmans
With the Nikkei plummeting to new depths, Tokyo’s equity researchers might want to start thinking about other careers. The 70-strong Japanese equity research team at Goldman Sachs could soon be downsized on the back of dwindling demand for equity analysis as overseas investors turn their backs on Japanese stocks. But don’t be surprised if Goldmans [...]
Trading jobs take a tumble
The outlook is bleak for Japan’s brokerage sector, but just what impact is the equities slump having on trading roles? Nomura’s heavy second-quarter losses show that the global financial meltdown is hurting Japan’s brokers – despite their comparatively low exposure to asset-backed securities – because of sharp declines in the local stock market. (Financial Times) [...]
Bad omen for Nomura bankers
First they had to tolerate the arrival of 2,500 Lehman bankers on inflated guarantees. Now Nomura’s existing staff are being asked to take orders from their uninvited guests. On Friday, Nomura revealed that ex-Lehmanites Christian Meissner and William Vereker are to be heads of investment banking for Europe, the Middle East and Africa, and that [...]
Equity slump hits hiring
Hiring freezes, shrinking bonuses and ailing equity markets? It’s a tough time to be in equity sales or trading in Tokyo. Massive falls in the benchmark Nikkei N225 (Reuters), coupled with global cost cutting, have taken their toll on banking sector hiring. Jeremy Sanderson, CEO at Icon Partners, says hiring levels in equity derivative sales, [...]
ECM hiring suffers Japanese jitters
UBS has combined its Tokyo equity capital markets bankers into a joint ECM/DCM team as recruitment in this sector hits the buffers. The bank’s decision to create a combined capital markets group in Japan is part of a global strategy to help equity and debt specialists “work better in partnership”, Jackie Kestenbaum, a UBS executive [...]
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