Daiwa moves for Korea derivatives licence and reaffirms Asia expansion drive

Daiwa Capital Markets, the investment banking unit of Daiwa Securities, has reaffirmed its plans to allocate about ¥100 billion to offices outside Japan to expand its business out of the domestic market. As part of the expansion strategy, it plans to add 660 staff globally, with 300 staff in Asia ex-Japan equity and derivatives business areas, in the coming year. "We are aiming to become an Asia-based company from a Japan-based firm," said Daiwa Securities deputy president Takashi Hibino