Sumitomo Mitsui Financial Group Inc. will hire four former UBS AG employees to expand its Japan equity business, according to a source.
Trevor Hill, head of equities at UBS in Japan until he left the firm in December, will join the bank's SMBC Nikko Securities Inc. unit next Tuesday to lead its equity operations, said the source, who asked not to be named as the information is private.
Yoshihiro Warita, a former head of equity capital markets at UBS in Japan, will do the equivalent job at SMBC Nikko starting next month, the source said.