BNP Paribas SA plans to add more staff in Japan after hiring about 30 people in the Asian country since January, Bloomberg News reported Aug. 2, citing "people with knowledge of the matter."
The Paris-based bank appointed Ayumi Fujimoto as head of Japan financial products sales in June and Daisuke Yamada as head of yen and foreign-currency rates sales in January. Fujimoto and Yamada joined the bank from Deutsche Bank AG and Morgan Stanley, respectively. Further, the bank hired Takashi Tamiya from Deutsche Bank in June to head its asset finance and securitization business in Japan, the news outlet reported.
A Tokyo-based spokeswoman for BNP Paribas confirmed the appointments but did not comment on the bank's recruitment plans, according to the report.
The hiring came as BNP Paribas Securities (Japan) Ltd. reported net income of ¥15 billion in the fiscal year ended March, its biggest profit at least in five years.
The brokerage promoted Ayumu Fukazawa, head of primary markets, to lead its Japan global markets operations, effective Aug. 1. Fukazawa replaces Kyoya Okazawa, who is moving to Hong Kong in September to take charge of Asia sales, the people said.
BNP Paribas is not the only European bank to boost its market business in Japan amid low interest rates. Barclays Plc is looking to hire more than 10 investment bankers and sales staff in the current fiscal year, Bloomberg reported.
As of Aug. 2, US$1 was equivalent to ¥110.48.