MUFG stalwart Hayashi gets plum Asia rates role

Ryosei Hayashi's move to Hong Kong from London comes as MUFG completes a large share repurchase and reorganises how its growing business is managed.

Mitsubishi UFJ Securities HK, a unit of Mitsubishi UFJ Financial Group, has appointed Ryosei Hayashi as head of rates trading and sales for Asia.

Hayashi, who began his career with Mitsubishi UFJ Securities more than 20 years ago, will be based in Hong Kong, MUFG said on Wednesday. He will report to Trent Hagland, head of Asia and chief executive officer in Hong Kong, and to Atif Hayat, the London-based international head of rates.

The appointment was made after MUFG completed a share repurchase transaction worth an aggregate ¥100 billion ($808 million) and in the midst of an eventful first half-year for the Japanese financial group.

In February MUFG said it increased its shareholding in Securities, a Tokyo-based broker, to 50.1% from 11.7% after buying shares held by Bank of Tokyo-Mitsubishi UFJ. The share transfer was made April 1.

Also in April, the company released a statement regarding the merger of Mitsubishi UFJ Asset Management with Kokusai Asset Management.

In addition, MUFG confirmed in May that it wanted to adopt a new governance structure to better manage its growing business, replacing the board of corporate auditors with three committees and adding more outside directors.
The group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms.

Hayashi has spent most of his career in London working with the company’s rates and derivatives department.

In a statement released by its Hong Kong office, the group said it hopes Hayashi’s background in rates will support the continued development of the company’s rates business in Asia.

“We believe Ryosei Hayashi will play an integral role in continued collaboration across the MUFG business that will help us to best serve the clients of MUFG, and better equip us to fully support the vision of becoming the world’s most trusted financial group,” Hagland said in the release.

Mitsubishi UFJ Securities is banking on Hayashi’s international ties and long-standing relationships within the parent to build a robust business model that spans the huge institution’s related subsidiaries, including the Bank of Tokyo-Mitsubishi UFJ (BTMU)’s and Mitsubishi UFJ Securities Holdings’ (MUSHD) Sales & Trading operations. MUSHD is a wholly-owned subsidiary of MUFG. It conducts securities business in Japan through its domestic subsidiary Mitsubishi UFJ Morgan Stanley Securities.

“This is a key initiative as part of MUFG’s broader three-year business plan to improve customer convenience and enhance the bank’s competitiveness and efficiency,” MUFG said of the task of bringing together the group’s various units.

CORRECTION: This aticle has been revise to reflect the correct name of Mitsubishi UFJ Financial Group.

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