Natixis SA, the investment-banking arm of France’s second-largest bank by branches, plans to increase employees at its Japanese unit by 50% as part of efforts to boost revenue from abroad.
Bloomberg reports that the unit of Groupe BPCE aims to hire about 20 people in Japan this year to bring the total to 60, Laurent Mignon, chief executive officer of Natixis, said in an interview in Tokyo on March 28. The recruits will help the firm spur sales of fixed-income and equity products, including derivatives, to local clients through Japanese financial institutions, he said.
Natixis set targets in November to increase revenue from its main businesses to $11bn in 2017 as it focuses on operations including wholesale banking and asset management and recovers from the 2008 global financial crisis. The goal involves expanding revenue from overseas to more than half of the total from about 44% last year.
'A significant part of the growth will come from developing our international business', said Mignon, 50. 'In Asia, we have made a particular focus on our Japanese operations'.
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