Deals
Barclays's Japan Profit Revival Sets Stage for Expansion Phase
- U.K. firm halted three years of losses in the Asian nation
- Hired 25 this year and plans to recruit more, Kiso says
The Barclays offices in Tokyo.
Photographer: Akio Kon/Bloomberg
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Barclays Plc has turned around its Japan business after three years of losses, giving it the confidence to boost investment banking and markets operations in the country.
The U.K. bank’s Japan unit posted record profit in the year ended March, thanks to rising fees and cost cuts. After hiring about 25 bankers, traders and sales staff so far this year, local chief Kentaro Kiso wants to recruit more people, including for corporate finance and mergers and acquisitions advisory businesses.