BNP Paribas Hires Johno From Citigroup for Japan Equity Coverage
BNP Paribas Hires Johno From Citigroup for Japan Equity
Fabrice Dimier/Bloomberg
The Paris-based bank is hiring even as foreign firms cut about 2,000 jobs in the country in the 18 months to Dec. 31.
The Paris-based bank is hiring even as foreign firms cut about 2,000 jobs in the country in the 18 months to Dec. 31. Photographer: Fabrice Dimier/Bloomberg
BNP Paribas SA (BNP), France’s biggest bank, added two members to its Japan equities team, including former Citigroup Inc. (C) Managing Director Toshiyuki Johno.
The bank today hired Johno, 46, as a commodity industry analyst, according to a memo obtained by Bloomberg News. It recruited Benjamin Rameau, 30, for equity sales, from Deutsche Bank AG (DBK) on Feb. 17. Yukiko Kishino, a Tokyo-based spokeswoman at BNP Paribas, confirmed the memo’s contents and declined to comment further.
Kyoya Okazawa, BNP Paribas’ head of global equities and commodity derivatives in Japan, has added 30 staff since joining the bank from Credit Suisse Group AG in March last year, Kishino said. The Paris-based bank is hiring even as foreign firms cut about 2,000 jobs in the country in the 18 months to Dec. 31, according to recruitment firm Executive Search Partners Co.
Johno, former managing director at Citigroup Global Markets Japan Inc., will cover trading companies and iron and steel makers, the memo said.
BNP Paribas began boosting its Japanese equity operations in April 2010, when it hired about 20 people from KBC Groep NV’s Tokyo-based unit. Since June of that year, 200 overseas brokerages, hedge funds and buyout firms reduced their Japan staff to 22,000 as of Dec. 31 from 24,000, according to Executive Search, the country’s biggest recruitment company focusing on investment banks.
To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net
To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net
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