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Report: Japan's Daiwa Securities to name CEO for Frankfurt unit

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Report: Japan's Daiwa Securities to name CEO for Frankfurt unit

Japan-based Daiwa Securities Group Inc. is set to name Manabu Takahashi CEO of its new Frankfurt unit, "people familiar with the matter" told Bloomberg News.

Takahashi, who heads the Japanese brokerage's Geneva branch, will be announced in his new role later March 23, according to the sources, who also added that the appointment is subject to Daiwa Securities obtaining regulatory approval, which is still pending, for its German subsidiary.

The Japanese company plans to house 30 employees in Frankfurt, after selecting the city as its post-Brexit EU base, the report noted. The company is expected to inform 10 to 15 of its staff in London that they will relocate to Germany and hire a similar number in the country, sources previously told the news wire.