Sumitomo Mitsui Financial Group Inc. is hiring staff at its investment banking unit as it competes with more established names such as Nomura Holdings Inc. for bond and share deals.
SMBC Nikko Securities Inc., which started operations in 2009, was the second-largest underwriter of Japanese equity sales and the fourth biggest for local corporate note issues last year, according to data compiled by Bloomberg.
Nomura has been the nation's top stock underwriter since 2002, while Mizuho Financial Group Inc. took the top spot in 2014 for company notes, beating Nomura, which had been No. 1 for three years, excluding self-led issues.