Sumitomo Mitsui Financial hiring staff at its investment bank

Sumitomo Mitsui Financial is hiring staff at its investment banking unit as it competes with more established names such as Nomura for bond and share deals.

Bloomberg News reports that SMBC Nikko Securities, which started operations in 2009, was the second-largest underwriter of Japanese equity sales and the fourth biggest for local corporate note issues last year, according to data compiled by Bloomberg.

Nomura has been the nation’s top stock underwriter since 2002, while Mizuho Financial took the top spot in 2014 for company notes, beating Nomura, which had been No. 1 for three years, excluding self-led issues.

'We realized it wouldn’t be so easy for us to win more bond deals unless we bring new issuers to the market', Shunshi Kira, head of the capital markets at SMBC Nikko, said at the brokerage’s Tokyo headquarters in an interview. Kira said he would like to double to about 10 staff for the team covering debt sales by financial institutions and add bankers in the U.S. to support origination and distribution of new deals.

To access the complete Bloomberg News article hit the link below:

SMBC Nikko Targets Nomura With Global Investment Banker Hiring

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