Perhaps it says something about CSFB's view of the Japanese M&A market, but it is moving its Tokyo M&A head to Hong Kong, where he will have oversight for the region as a whole.

David Anderson will move to Hong Kong, but retain oversight for Japan - in a move that will cut costs, but obviously doesn't send out very positive signals to the Japanese. Anderson's M&A team in Japan racked up $8.1 billion of announced transactions last year in 10 deals, putting CSFB ninth in the league table.

In the first four months of this year, there has been $29 billion of announced M&A in Japan, but according to a Thomson Financial league table, CSFB did not make the top 10. In Hong Kong, Anderson will report to head of investment banking, Eric Varvel. Anderson's oversight, as well as including Japan, will take in Australia and New Zealand. He will principally lead the origination and execution of M&A assignments in non-Japan Asia.