Deutsche Bank makes key FX sales hires for Japan
Deutsche Bank has hired two senior FX salespeople in Asia to service Japanese corporates – one from Bank of Tokyo-Mitsubishi UFJ (BTMU) and the other from JPMorgan, a bank spokesman confirms.
Yasuo Matsuda has been hired as a director from BTMU, where he had been since 1994. He will be responsible for Japanese corporates outside their domestic market, in countries such as Thailand and Indonesia, where many Japanese companies have outsourced manufacturing and established subsidiaries. The German bank has also hired Tomohiko Tsuchiya, from JPMorgan. He is an options specialist with Japanese corporates, and will be based in Singapore, also covering Japanese corporate subsidiaries in south-east Asia.
Deutsche Bank more than doubled the volumes it trades with Japanese corporate clients in 2011, according to Euromoney Market Data, as it rose six places to second in the Euromoney FX rankings, with a market share of 9.15% – less than half of the leader Citi, with 19.47%.