Bank of America's Japan office has announced two hires in the financial institutions and corporate banking groups. Both Hideaki Miyato and Mitusaki Yamazaki will arrive at the bank in newly created roles as part of its strategy in Asia to increase deal flow and profitability, which is also beginning to show significant results with the bank's client base in Japan.
Miyato will join the North Carolina-based bank as managing director in the financial institutions team, Bank of America Securities Japan. In the new role for BoA, Miyato will focus his attentions on delivering its portfolio of structured and complex investment products to the more sophisticated Japanese investor.
He arrives at Bank of America from the Tokyo operations of Bayerische Hypo und Vereins Bank (HVB) where his position was head of loan and structured product sales. Miyato's experience extends to ABN AMRO Securities where he was head of structured products and managing director position at Nippon Credit Bank's London-based securities arm.
In total, Miyato brings over 20 years of investment banking and capital markets experience to Bank of America. He will report to Alok Kochhar, Bank of America regional head of financial institutions.
Also taking the plunge is Yamazaki, who has been appointed principal in the corporate banking team, Bank of America N.A. In his job, Yamazaki will distribute the bank's portfolio of debt and risk management solutions to corporate clients, working closely with and reporting to Yoshihiko Asano, the country executive officer.
Yamazaki moves over from Citibank where he was parent account manager for major Japanese financial institutions. He has also held positions in Tokyo and New York for Mizuho Bank throughout his 20 plus year banking career.
"We're making strategic investments throughout the region and plan to accelerate our activities in key areas of opportunity for the bank and our clients," says Colm McCarthy, president of Bank of America Asia. "Our Asia strategy is focused on a select group of clients to whom we deliver innovative, debt led solutions and out strategy is already paying dividends."
The appointments follow Bank of America's formation in May of a four-member senior management team to build on debt capital raising, distribution, structuring and trading capabilities across the region.