Some market participants argue that foreign dealers may have access to as little as 20% of the available investment banking revenues in Japan, with the rest controlled by the Japanese incumbents. While that 20% tends to be the most sophisticated and lucrative portion, several large dealers are trying to change that situation, notably Deutsche Bank.
The German bank has increased its headcount in Tokyo to 510 as of late August, up 21% on last year, and global markets head Henry Ritchotte, along
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts
- Swaps data: SOFR volume and margin insights