(Bloomberg) -- Citigroup Inc. appointed Robert Nakamura as its new Japan country officer, putting the markets veteran in charge of local operations as trading booms. 

Nakamura, 59, who joined the bank’s rates derivatives group in Tokyo in 1993, will also double as banking head for the country, according to an internal memo seen by Bloomberg News and confirmed by a spokesperson. The appointment will take effect July 1, subject to regulatory approvals.

He will report to Marc Luet, the regional chief in charge of Japan, North Asia and Australia. Luet has been serving as interim Japan country officer and banking head.

The change comes as Citigroup seeks to boost its presence in Tokyo while implementing a broad global restructuring to revive profit. The firm moved earlier this year to extend its yen rates business to dozens of regional lenders. It is also targeting a top five local ranking for merger advisory.

The bank’s Japanese brokerage unit did better last year in stock and bond trading as revived market activity benefited financial companies, although its overall profit fell 23% on higher costs, according to filings. 

Nakamura at present heads the markets business at Citigroup Global Markets Japan. A Cornell University MBA holder, he has held roles in sales, trading and the structuring of fixed income and equity products in a career spanning more than three decades.

 

 

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