Daiwa Securities SMBC joins the DIFC

The primary purpose of this new office in Dubai will be to further develop business opportunities in markets across the Middle East, focusing initially on sales of Japanese and Asian equities and structured bonds, as well as expanding to support the investment banking needs of local customers.

Mr Eishu Kosuge, Chairman & CEO of Daiwa, commented: "This is an excellent opportunity to develop our network in the Middle East and to demonstrate our extensive expertise to clients in the area. We are delighted to be the first Japanese securities firm to receive a license to operate in the DIFC. We also look forward to cooperating closely with Sumitomo Mitsui Banking Corporation, which has also recently opened an office in DIFC."

Nasser bin Alshaali, CEO of the DIFC Authority, said: "As we witness a steady flow of prestigious financial institutions joining the DIFC, it is always rewarding to welcome an expert from a new region. By choosing to establish an office in Dubai, Daiwa highlights the current perception that we are ideally situated as the gateway between East and West. Not only will Daiwa reap the benefits of this location, but they will also add value to the DIFC, facilitating greater access to Asian products."

The Daiwa office will be headed by Mr Yasutake Sakamoto. Mr Sakamoto joined Daiwa Securities in 1987 and has previously spent time working in New York. He was most recently General Manager, Chief of Fixed Income Sales for International Investors in Tokyo. The team in Dubai will work closely with Daiwa's existing branch office in Bahrain.