Rothschild & Co. named Daiwa Securities Group’s former co-head of investment banking as vice-chair for Japan to strengthen its business in the country.

The French investment bank hired Yuichi Akai to expand its Japan business and grow its team in the country, according to a statement from the bank on Monday.

Akai’s hiring is part of a plan to accelerate Rothschild’s ambitions in Asia. The Paris-based company is adding staff in Japan as other banks are slashing headcount globally amid slowing business activity.