Japan Fixed Income Sales

Job description

ICG Fixed Income Sales Coverage, New York City. Role and Responsibilities: the individual's primary function is to cover the Japanese Institutional Account base for fixed income and financing in the Americas and other domestic fixed income accounts. It is required that the individual speak Japanese fluently and be able to write in Japanese (hiragana, katakana and Kanji) as well as fluency in English. The NY Japan Sales Hire will also be a part of the global ICG Japanese Sales force based in Tokyo and London and will coordinate coverage, core leave and information flow between the centers. The individual will have an annual budget target and scorecard as VP within ICG.

Role

The individual will cover the Japanese institutional clients for fixed income across asset classes – the main focus being flow rates products in cash and derivatives, also to include corporate bonds, EM Rates, EM Credit, Covered Bonds, SSA's, ABS and repo financing. It is critical that the individual be globally coordinated with the teams in Tokyo and London and able to be a fully integrated member with the local teams in New York that focus on banks, asset managers, hedge funds and real money.

Financing

Summary of Japanese accounts that are active on HSI: Norkinchukin (3.3b in outstanding repo – has been as large as 9b), Mitsubishi UFJ and Sumitomo Trust- Daiwa has also been in the mix but has backed away as we no longer have local coverage. New coverage will be responsible for driving effort to expand the bandwidth of collateral (corporates, high yield and mortgages) and uncover opportunities in structured funding e.g. Collateral Switches, TRS, Bond Forwards, Structured Repo, and Cross Boarder Repo. This combines two of our strategic initiatives for the region: Solutions and Financing bringing focus to the Japanese Account base locally. We have had tremendous success with our JGB bond forward program in HBUS ~USD 7B ~(12mm per annum), TRS and Fwd bonds on single cusips in UST and Strips, TRS on Latam underlyers such as Brazilian LTN's and Cetes Bond Fwds, local latam receivables – over the years we have also been involved with Uradashi business with Japanese investors.

SSA Business

A critical link. The Japanese Client base, particularly Krug is a critical investor base for our primary business. Krug typically will buy 10-20% of a given USD new issue from benchmark names including: KFW, EIB, IFC, IADB, IBRA & EBRD. It is also important to highlight the importance of the Japanese client base in CAD primary issuance (EIB, Canhou, IBRD, ONT, KFW and EDC). SSA activity also drives a substantial amount of cross currency swap business on the back of the issuance. Finally, Japanese client activity in the secondary SSA business is a key driver in winning primary mandates.

Desired profile

Qualifications :

·  Able to understand and manage complex and diverse instruments.
·  Series 7 and Series 63 EEO/AA/Minorities/Women/Disability/Veterans