Sumitomo Mitsui Finl Group Inc - SMFG STOCK NEWS

Jefferies Financial Group (NYSE: JEF) and Sumitomo Mitsui Financial Group (NYSE: SMFG) have expanded their strategic alliance to enhance investment banking services, including M&A and U.S. equities. This collaboration aims to improve client offerings through combined resources. SMBC intends to increase its economic ownership in Jefferies to up to 15% by purchasing shares, enhancing its role in Jefferies' governance with a designated board member. The partnership follows a $2.25 billion financing from SMBC in 2021, which has led to a total commitment of approximately $3.4 billion. The companies expect the expanded alliance to better serve their clients and leverage their sector expertise.

SMBC Capital Markets, Inc. has appointed Gareth Hughes as Head of Trading, based in New York. Hughes will lead the derivatives and macro rates trading business, enhancing trading capabilities for a growing institutional client base. He is expected to collaborate with the SMBC Nikko Securities America, Inc. team to align secondary market priorities. Hughes brings extensive experience from UBS, overseeing linear rates trading, and prior roles at Société Générale in Fixed Income and Currencies. This leadership change aims to drive growth in trading operations, as noted by Yunson Du, Senior Deputy President of SMBC Capital Markets.

SMBC Nikko Securities America has appointed Steven Feinberg as Head of Credit for its Fixed Income Sales & Trading Group in New York. Feinberg will oversee various teams focused on U.S. Investment Grade, High-Yield, Emerging Markets, and Structured Products, aiming to enhance sales and trading capabilities globally. He brings extensive experience from previous roles at MUFG and Deutsche Bank. The appointment is part of SMBC's strategy to strengthen its secondary Credit Sales and Trading platform, following several key hires, including Colin Campbell and Josh Deitch. SMBC, part of a major global financial group, serves institutional clients across regions.

SMBC Nikko Securities America has recently made significant hires in its equity execution business to strengthen its presence in the U.S. and Japanese equity markets. The new team members are expected to enhance trading relationships and grow the U.S. equity liquidity pool. Allen Jordan, Marc Rosa, and Ted Langworthy are notable additions, bringing extensive experience and client relationships. This expansion emphasizes SMBC's commitment to developing new equity products and leveraging its strengths in securities lending.

SMBC has appointed Robin Milberg as Chief Human Resources Officer and Paul Sweeney as Head of Strategy & Transformation. Both will report to Debbie Freer, COO of the Americas. Milberg, with a strong HR background in financial services since joining SMBC in 2015, focuses on employee experience and HR strategies. Sweeney, who joined in 2019, previously led transformation efforts at SMBC and aims to align strategies with U.S. regulatory requirements. SMBC Group, a global leader in financial services, continues to expand its workforce to support growth.

SMBC Group has appointed Rick Davison as Chief Financial Officer for the Americas. Hirofumi Otsuka, CEO of SMBC Group in the Americas, emphasized Rick's strong track record in enhancing business and shareholder value. Rick previously served as U.S. Chief Financial Officer for the Royal Bank of Canada, overseeing finance-related areas and leading various initiatives. With a Bachelor of Business Administration from Villanova University, he aims to enhance financial processes and support business growth at SMBC.

SMBC, part of SMBC Group, has successfully closed a financing deal worth $1.28 billion for QTS Realty Trust to construct a new data center campus. This financing positions SMBC as Sole Coordinating Lead Arranger, Sole Bookrunner, Green Loan Coordinator, and Administrative Agent. This funding complements a previous June 2022 financing for a separate campus. Both transactions are aligned with the Green Loan Principles, endorsed by a third-party opinion, underscoring SMBC's commitment to supporting sustainable infrastructure development.

SMBC Nikko Securities America has appointed Joseph A. LaVorgna as Managing Director and Chief Economist. With over 25 years of experience, LaVorgna aims to enhance the firm's macro research team, crucial for expanding its Macro Rates product. Previously, he held positions at Natixis and the White House, contributing significantly to economic analysis. Yunson Du, the firm's Head of Fixed Income Sales and Trading, emphasized the appointment demonstrates their commitment to hiring top talent to serve institutional clients better.