Japanese investment bank Daiwa Capital Markets has appointed Meurig Williams as its regional head of equity for Europe and the Middle East, as part of a drive by the bank to grow its market share in the global equities markets.
Williams, who was formerly head of pan-Asian shares in Europe during a 12-year career at Goldman Sachs, will act as managing director of Daiwa Capital Markets Europe from the firm's European headquarters in London. He was also CEO of WiJo Capital, a London-based investment management firm.
Williams' role will include working in close cooperation with Daiwa's other regional equity heads to enhance the firm's Asian franchise. He will report to Yoshio Urata, global head of equity sales, and Masami Tada, chairman and CEO of Daiwa Europe.
“Meurig is a key hire for us as we look to expand our equity product line from its traditional focus on Japan to encompass a truly pan-Asian service,” said Urata.
Daiwa Securities Group, the parent company of Daiwa Capital Markets, acquired Sumitomo Mitsui Financial Group’s 40% stake in the firms' joint venture, Daiwa Securities SMBC, in January 2010. As a result, Daiwa Securities SMBC was rebranded as Daiwa Capital Markets.
Daiwa Capital Markets began its expansion in December with the launch of an electronic trading platform for cash and listed derivatives in Asia for institutions in Australia, Hong Kong, Korea, Singapore, India and Taiwan.
”Daiwa is currently broadening its range of investment banking services but it is just as important that we strengthen our traditional core businesses, such as equities, as we position ourselves as a leading Asian investment bank,” added Tada.