TOKYO: Citigroup Inc., the third-largest U.S. bank by assets, hired Kuniyoshi Hayashi from Deutsche Bank AG to head its Japanese markets and securities division.
Hayashi will join Citigroup Global Markets Japan Inc. on Aug. 11 as a managing director and head of markets and securities services, according to a memo obtained by Bloomberg.
Citigroup is focusing on corporate clients and institutional investors in Japan after agreeing to sell its local consumer-banking and credit-card operations. The Japanese markets and securities services division offers products including equities and bonds as well as derivatives, according to its website.
Hayashi has worked in the country’s markets for more than 20 years, most recently as co-head of global markets at Deutsche Securities Inc. in Tokyo, the memo showed. He began his career at Goldman Sachs Group Inc. after graduating from the University of Tokyo.
He will replace Luke Randell, who became chief executive officer of Citigroup Global Markets Japan in January. Hayashi, who will report to Randell, will also serve on the unit’s board of directors and management committee, the memo showed. Mika Nemoto, a spokeswoman for Citigroup in Tokyo, confirmed the contents of the memo.
