Overseas Financial Firms Once Again Strengthening Japan Ops

Some foreign financial companies are shifting from downsizing their Japanese operations to augmenting perceived growth areas such as investment banking and services for wealthy clients, according to Nikkei. Barclays Capital Japan Ltd. for example, plans to hire more than 100 new employees over the next one to two years to grow its ranks to 850. The expansion will target mainly the investment banking and Japanese equity divisions. The HSBC Group and Credit Suisse who are also trying to beef up their private banking businesses, are vying for a piece of the 1400 trillion yen ($14 trillion) in Japanese household assets.