(Adds confirmation on appointments)
TOKYO Jan 29 Daiwa
Securities Group Inc , Japan's No. 2 brokerage, will
name Deputy President Takashi Hibino as its new president
effective April 1, sources familiar to the matter said on
Hibino, 55, will replace Shigeharu Suzuki and will also
serve as president of retail unit Daiwa Securities Co and
wholesale unit Daiwa Securities Capital Markets Co, the sources
Daiwa Securities, which ended a 10-year investment banking
joint venture with Sumitomo Mitsui Financial Group in
2009, has shifted its focus to expanding in Asia, including
China, Hong Kong and India.
This regional strategy is in stark contrast to Nomura
Holdings , its main rival, which has been
pushing to expand around the globe through the purchase of the
Asian and European operations of failed investment bank Lehman
Brothers , as well as by building operations from
scratch in the United States.
The board of Daiwa Securities is expected to approve the
appointments next week, the sources said.
The outgoing 63-year-old president, Suzuki, will become
chairman, and the current chairman, Akira Kiyota, 65, will
retire, they added.
(Reporting by Emi Emoto in Tokyo and Mayuresh Tungare in
Bangalore; Editing by Yoko Nishikawa)