SMBC Nikko Securities America Appoints Joseph A. LaVorgna as New Chief Economist

Rhea-AI Summary

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.

Positive

• Joseph LaVorgna's extensive experience enhances the firm's economic expertise.
• His appointment is expected to strengthen the Macro Rates product offering.

Negative

• Transition periods may pose challenges in continuity during the integration of new leadership.

NEW YORK--(BUSINESS WIRE)-- SMBC Nikko Securities America, Inc., a member of SMBC Group, announced today the appointment of Joseph (Joe) A. LaVorgna as Managing Director and Chief Economist.

“To add someone of Joe’s caliber speaks volumes about our dedication to our clients and to our commitment to hire top talent who broaden our team,” said Yunson Du, Managing Director and Head of Fixed Income Sales and Trading. “This is one more building block in expanding our foundational expertise and enhancing the scope of services we offer institutional clients. Joe comes to us with solid experience as someone with gravitas when it comes to understanding the economy, macro and micro trends, and economic policy. As we continue to build our Macro Rates product offering, we are excited as Joe will anchor our macro research team, which will be a key component of this business.”

Joe has spent more than 25 years in the financial services industry. He was most recently Managing Director and Chief Economist for the Americas at Natixis, where he oversaw the firm’s economic research effort in the region and managed a team of economists that analyzed trends in the equity, fixed income, foreign exchange, and commodity markets. While with Natixis, he took a year away to serve at the White House as Special Assistant to the President and Chief Economist of the National Economic Council.

Appearing regularly in the financial media, Joe has been a contributor for CNBC and a contributing opinion writer for The Hill. For more than a decade, he was also ranked as a top economist in the prestigious Institutional Investor All-Star Fixed Income Survey.

Prior to Natixis, Joe spent 20 years with Deutsche Bank Securities in the Global Market Division, where he was considered one of the leading Wall Street economists. Early in his career, he was with Lehman Brothers, Inc., UBS Securities, Inc., and the Federal Reserve Bank of New York.

About SMBC Nikko Securities America, Inc.

SMBC Nikko Securities America, Inc. is a member of SMBC Group, one of the world’s largest global financial institutions. Based in New York City, SMBC Nikko Securities America, Inc. provides investment securities and other financial services to corporate and institutional clients, focusing on North America and Latin America. SMBC Nikko Securities America, Inc. caters to institutional investors such as mutual funds, hedge funds, and other investment advisors.

About SMBC Group

SMBC Group is a top-tier global financial group headquartered in Tokyo. With a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. SMBC Group has more than 140 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 New York (NYSE: SMFG) stock exchanges. As of June 30, 2022, its total assets were $1.97 trillion.

In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by its capital strength and the value of its relationships in Asia, SMBC 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. SMBC 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005347/en/

AnneMarie Laorenza

annemarie_laorenza@smbcgroup.com

Source: SMBC Nikko Securities America, Inc.

FAQ

Who is Joseph LaVorgna and what is his new role at SMBC Nikko?

Joseph LaVorgna has been appointed as Managing Director and Chief Economist at SMBC Nikko Securities America.

What experience does Joseph LaVorgna bring to SMBC Nikko?

LaVorgna has over 25 years in financial services, previously serving at Natixis and the White House.

How will LaVorgna's appointment impact SMBC Nikko's business?

His role aims to enhance macroeconomic research and improve the Macro Rates product for institutional clients.

What is the importance of LaVorgna's appointment for SMFG shareholders?

Strengthening economic insights and product offerings may lead to improved institutional client services, potentially benefiting SMFG's overall performance.