JPMorgan Chase & Co. (JPM) said it hired Naohisa Ando, a former managing director at Nomura Holdings Inc. (8604), as head of its new Japan capital market advisory department to boost its fundraising business.
Ando, 49, who helped lead equity capital markets operations at Nomura Securities Co., joined JPMorgan Securities Japan Co. last week, Yukako Yoshino, a Tokyo-based spokeswoman for the U.S. firm, said in a telephone interview today.
Japan’s stock rally and economic recovery helped companies raise 3.4 trillion yen ($34 billion) selling shares this year, more than triple the 901 billion yen issued a year earlier, data compiled by Bloomberg show. JPMorgan is the No. 7 equity underwriter in the country, arranging offerings for firms including Suntory Beverage & Food Ltd. (2587) and Japan Tobacco Inc. (2914)
Ando began his career in 1987 as an analyst at Nomura Research Institute Ltd. after graduating from Hitotsubashi University in Tokyo, JPMorgan said in an e-mailed statement.
To contact the reporter on this story: Takahiko Hyuga in Tokyo at email@example.com
To contact the editor responsible for this story: Chitra Somayaji at firstname.lastname@example.org