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Natixis eyes revenue hike in Asia through fixed income, equity derivatives

Natixis intends to nudge up the share of its corporate and investment banking sales that come from Asia to over 15% in the coming years from 13% at present by expanding its fixed-income and equity derivatives operations, Reuters reported Dec. 4, citing an interview with CEO Laurent Mignon.

The French investment bank, a unit of Groupe BPCE, will also increase its employee count in the region, currently 620, by 10% a year over the next three years, Mignon said. The planned Asian expansion comes amid heightening competition between Wall Street banks and other firms for services such as underwriting and deal advisory, causing a drop in fees for standard investment banking offers and hurting the profit of big foreign lenders, the newswire noted.

Natixis aims to build on its existing fixed-income and equity derivatives operations in Japan, South Korea and Taiwan by targeting other markets including Singapore.