Barclays Appoints Takemura to Lead Japan Rates Business Operations

29 Jan, 2025

Barclays Plc has appointed Yoichi Takemura, a former portfolio manager at Garda Capital Partners LP, to lead its yen rates trading business. Takemura, with nearly two decades of experience in yen rates and foreign exchange trading, joined as Japan macro trading head. Initially working from Singapore, he is set to relocate to Tokyo later this year. This move underscores Barclays’ strategy to strengthen its presence in Japan’s $7.1 trillion government bond market amid rising opportunities spurred by market volatility.

Japan’s central bank has been normalizing its ultra-easy monetary policy, reinvigorating the trading of Japanese government bonds (JGBs) and driving profits in debt trading. This shift has ignited fierce competition among global financial firms to secure experienced talent in yen rates products. Barclays, for instance, has also recruited Steven Shi from Mizuho Financial Group Inc. and Takehiro Suzuki from Deutsche Bank AG for its yen rates trading division since October.

Yun Zhang, co-head of FIC trading for Asia Pacific, emphasized that the divergence in Japan’s rates from global trends presents significant opportunities for Barclays in this space. The Bank of Japan’s recent decision to raise its key policy rate to a 17-year high and its positive outlook on inflation have further fueled expectations for additional rate hikes, creating momentum in JGB trading.

Barclays’ Japanese investment banking division achieved record profits of ¥16.5 billion ($106 million) in 2023, positioning it as the third most profitable global investment bank operating in the region. The rise in yen rate product transactions significantly contributed to this success. With Takemura’s appointment and a robust team in place, Barclays is poised to capitalize on the evolving opportunities in Japan’s bond market and strengthen its leadership in the financial sector.

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