Global investment bank Credit Suisse has appointed Myo Schollum head of prime services coverage in Japan. His selection is part of a drive by Credit Suisse to become the leading prime broker in the Asia Pacific region. Schollum will be based in Tokyo, and will report to Kyoya Okazawa, head of equities for Japan.
Previously, Schollum has worked for Credit Suisse in Singapore, Hong Kong and London. He has also worked for Deutsche Bank in Australia and the UK.
“Today's appointment reflects the importance of Japan to our Asia Pacific prime services strategy,” commented Kevin Meehan, head of prime services coverage Asia Pacific. “Myo's wealth of experience and proven track record across the globe will be valuable to our hedge fund clients, particularly global managers investing in Japan. With his leadership, we will accelerate our efforts to strengthen our prime services franchise and deliver first class service to our clients in Japan.”
Equity trading activity is expected to rise in Japan, supported by new proprietary trading systems (PTS) and infrastructure that can support its activity. The unveiling of the Arrowhead platform by the Tokyo Stock Exchange on 4 January 2010 was intended to attract increased levels of high frequency trading, while exchange group Chi-X Global launched its PTS, Chi-X Japan, on 29 July 2010.