Deutsche Bank recently recruited three people to strengthen its equity execution business in Japan, said Paddy Hogan, head of equities in the country.
Bloomberg News reports that they are Kentaro Iwao, a former trader at Bank of Americas Japan securities unit, who joined as co-head of Asia-Pacific portfolio trading sales with David Foodey, Masa Murakami, who was hired from Mizuho Securities Co. for electronic sales trading and Bella Lee, previously at Goldman Sachs, who joined as a securities lending and flow swaps trader in global prime finance.
In the meantime, Bloomberg also reports that Goldman Sachs has hired veteran dealmaker Wei Cai as co-head of its China investment banking business, making him a partner in a rare move as the firm seeks to capitalize on the nation’s financial-market opening.
Previously at private equity firm FountainVest Partners, Cai will head the business alongside Beijing-based Zhu Hansong, according to a memo obtained by Bloomberg. Edward Naylor, a Hong Kong-based spokesman, confirmed the appointment.