Japanese brokerage and investment bank Daiwa Capital Markets has completed its acquisition of the Asian derivatives trading and market-making businesses of Belgian financial services firm KBC Group, for US$1.2 billion.
“The acquisition fits within Daiwa Capital Markets' plans announced in November 2009 to significantly grow its global markets operations including derivatives,” said Toshinao Matsushima, head of global markets division at Daiwa.
The firm is currently expanding its operations across Asia, following a commitment in November 2009 to double its headcount in the region as part of its build out beyond Japan.