SMBC adds to securitised products team as part of global push

[NEW YORK] Sumitomo Mitsui Banking Corporation (SMBC) has made several senior hires as it pushes to bolster its capabilities in securitised finance, a multi-trillion market that’s seen strong issuance this year despite pockets of stress.

The hires are part of a larger push to expand the bank’s presence outside Japan and burnish its reputation as an investment bank with global reach.

In May, Tokyo-based Takashi Tamiya joined from BNP Paribas as a managing director to lead global securitised products syndication to investors in Japan. New York City-based Yoko Hasegawa joined from JPMorgan Chase as an executive director focusing on securitised products distribution in Asia.

In late April, Risa Itoshima joined SMBC from HPS Investment Partners as an executive director focusing on European CLO structuring.

“Japan is a financial powerhouse but the investor base is very relationship driven and not necessarily easy to navigate,” said Christine Ferris, head of securitised products at SMBC. “Our goal is to expand that reach further into the Americas and Europe, and we needed to make strategic hires to do that.”

The increased headcount for structured products comes as the Japanese bank fills key roles across the firm.

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In April, SMBC hired leads for three departments: Mark Kruzel as head of banks, Gagan Sobti as head of macro rates trading, and Shrikar Shah as head of interest rates structured trading, according to press statements.

Meanwhile, SMBC is establishing a second headquarters in Charlotte, North Carolina, with plans to hire about 2,000 people, according to an announcement last month. BLOOMBERG