Daiwa Capital Markets is bolstering its Asian derivatives business, including the development of ETFs as part of the firm's growing equity finance department.
The build up of the bank's Asian business also encompasses equity, rates, commodities, and foreign exchange. The equity finance department, which incorporates ETFs, is headed by Charlie Day.
Daiwa says it is planning to add around 300 employees to its Asian equity and derivatives business, and will inject ¥100bn ($1.1bn) into its Hong Kong operation by April, boosting the total capitalisation of the office by 210%.
As part of the expansion, global head of derivatives Dominique Blanchard will move from London to Hong Kong.
Blanchard joined Daiwa Capital Markets in June 2008, to build Daiwa's derivatives platform. The derivatives division covers Japan, Asia ex-Japan, Europe and the US. In his role, Blanchard is responsible for establishing a new derivatives team, making strategic hires.
The bank says the derivatives platform is "a major pillar of Daiwa Capital Markets' expansion in Asia and internationally, building on its strength in the Japanese domestic market."
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