Mitsubishi UFJ to Hire UBS’s Daisaku Ueno as Currency Strategist

Mitsubishi UFJ Financial Group Inc. (8306), Japan’s largest bank, said it will hire Daisaku Ueno from UBS AG (UBSN) and Takashi Nakagawa from Daiwa Securities Group Inc. (8601) to bolster research on bonds and currencies.

Ueno will join Mitsubishi UFJ Morgan Stanley Securities Co. on April 1 as a senior foreign exchange and fixed-income strategist, and Nakagawa will become a senior credit strategist, said Hiroaki Konishi, a Tokyo-based spokesman at the brokerage.

The investment banking joint venture, which was formed between Mitsubishi UFJ and Morgan Stanley (MS) in 2010, is seeking to strengthen its fixed income and foreign-exchange research targeting institutional investors in Japan and abroad.

Ueno, 46, who spent two decades at Nomura Holdings Inc. (8604)’s Tokyo, New York and Washington offices, was the top-ranked analyst by the Nikkei newspaper for five straight years to 2009. Nakagawa, 45, had a stint at Daiwa’s London office.

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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