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SMBC Capital Markets Appoints Gareth Hughes Head of Trading
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
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.
Positive
Gareth Hughes brings extensive experience from UBS and Société Générale.
Leadership change expected to enhance derivatives and macro rates trading.
Focus on improving trading capabilities aligns with institutional client needs.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Gareth Hughes as Head of Trading. Gareth will be based in New York.
In his new role, Gareth will lead SMBC’s derivatives and macro rates trading business, focusing on improving the firm’s trading capabilities to better meet the needs of a growing institutional client base. He will also partner with the SMBC Nikko Securities America, Inc. credit sales and trading team to align secondary market priorities and enhance SMBC’s value to clients in the primary markets.
Gareth reports to Yunson Du, Senior Deputy President of SMBC Capital Markets, Inc. and Deputy Head of Americas Division Sales & Trading, who said: “We are pleased to have Gareth join SMBC, and we’re looking forward to continued growth in derivatives and macro rates trading. He brings deep experience to lead a team that provides best-in-class product and service offerings to our institutional clients.”
Gareth joins SMBC from UBS, where he managed the linear rates trading business. Prior to that, he served at Société Générale as Head of Fixed Income and Currencies (FIC) in the Americas, overseeing Sales & Trading and formulating the bank’s annual FIC business plan.
Gareth will work closely with Christian Stauder, Head of Macro Rates Sales, who also joined SMBC from Société Générale in August of last year.
About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges. As of December 31, 2022, its total assets were $1.99 trillion.
In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. For more information, please visit www.smbcgroup.com.
