TOKYO: Natixis is entering the merger advisory business in Japan with an acquisition of its own, as competition for a slice of the country’s dealmaking boom intensifies.
The corporate and investment banking arm of French lender BPCE agreed to buy Sangyo Sosei Advisory Inc, an independent financial services firm in Tokyo, according to sources.
Representatives for Natixis and Sangyo Sosei declined to comment on the deal, which is subject to approval from Japanese regulators.
Global lenders are hiring investment bankers in Tokyo as Japanese companies pursue deals at a record pace in search of growth. Firms including Citigroup Inc, Goldman Sachs Group Inc and UBS Group AG have all made key appointments to beef up their ranks of dealmakers.
Natixis has taken a slew of steps in recent years to expand in Japan, growing its sales and trading team, strengthening its lending business and opening a bank branch. The firm’s local securities operations have focused on global markets and helping Japanese companies issue non-yen bonds.
The French bank’s latest acquisition will bring in a team of bankers including co-founder Gary Chan, a former UBS managing director who will oversee the newly established business. — Bloomberg
