Citigroup asked two equities staffers in Japan to reconsider their resignations, the latest sign of an intensifying battle for talent in one of the world’s tightest markets for finance workers.
The New York-based lender tried to convince Ken Yoshikawa, a senior executive of equity distribution in Tokyo, and his junior colleague Rick Soo, to stay after they tendered resignations, people familiar with the matter said, asking not to be identified discussing private details. Yoshikawa is expected to remain at the firm and it’s unclear if Soo will end up staying too, the people said, adding that the situation is fluid.
The negotiations highlight the challenges facing global and local financial firms in Japan to retain top staff and attract newcomers. The nation’s booming markets and rising foreign investment — fueled by returning inflation and relatively low borrowing costs — are driving a surge in demand for finance roles amid a low jobless rate that underscores the limits of the labor pool.
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