SMBC opened San Francisco office over demand for Japanese equity

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SMBC Nikko Securities, the brokerage arm of the Japanese bank, said it opened an office in San Francisco this month to tap overseas investors’ demand for the Asian nation’s equities.

Bloomberg reports that the unit of Sumitomo Mitsui Financial Group will also double the size of its Hong Kong office by 31st December, adding a second floor in Citibank Tower, Tadataka Ishida, a Tokyo-based spokesman at SMBC Nikko, said in an interview.

SMBC Nikko CEO Tetsuya Kubo plans to raise overseas headcount in equity and bond sales, trading and investment banking by 25% within three years as Japan’s stock rally attracts foreign investors and spurs domestic share sales. The firm’s first San Francisco office since 1992 opened 1st October and will house several sales staff, Ishida said.

To access the complete Bloomberg article hit the link below:

SMBC Nikko Opens San Francisco Office for Japan Equity

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