Lehman Brothers has expanded its global finance team in Asia, bringing in three new hires in newly-created roles. Hiroshi Wakutsu joins the firm in its Tokyo offices, while Terence Lim and Juhi Prasad come to Lehman in Hong Kong. The move is described by the investment bank as strengthening its Japanese franchise and broadening its product offering in Asia, in light of an expansion of hybrid products and leveraged finance.

In Tokyo, Wakutsu takes on the position of managing director, head of global finance, Japan, with effect from 1 May. In the new role, he will oversee LehmanÆs equity capital markets (ECM), debt capital markets (DCM), leveraged finance, structured equity solutions and risk solutions in Japan.

Wakutsu will report to Joonkee Hong, LehmanÆs managing director, head of global finance, Asia-Pacific and locally to Akio Katsuragi, managing director, head of investment banking, Japan.

He heads over to Lehman from Calyon and in total brings 18 years of experience in capital markets and equity derivatives. He had similar roles at Nikko Citigroup/Nikko Salomon Smith Barney in Japan and with Nikko Securities in London.

Also joining Lehman yesterday (8 May) is Lim, who has been named its head of global finance solutions, Asia. Based in Hong Kong, Lim assumes responsibility for bringing its capital structure solutions to Asia clients. He reports to James Lee, managing director, head of risk solutions group, Asia Pacific and to Anthony Arnaudy, senior vice president, head of debt capital markets, Asia.

Lim shifts over from JPMorgan where he was head of repackaging Asia ex-Japan and a member of its structuring and solutions team.

LehmanÆs Hong Kong DCM team will also be buoyed by the arrival of Prasad, who comes to the firm as head of leveraged finance, Asia. She joined the firm in April and in her newly-created role will focus her attention on leveraged finance, covering Asia, including the Japan and India markets. Prasad also reports to Arnaudy.

Prasad jumps to Lehman to from Deutsche BankÆs Hong Kong offices, where she was previously a director in its debt product team, with responsibility for leveraged finance and high yield bonds in Asia.