Macquarie set to poach Japanese banking star

7 November 2007

Macquarie Group, the Australian firm, is in line to hire one of the most high-profile bankers.

The Australian bank is set to poach Arthur Ozeki from rivals UBS as it moves to increase its business in Japan.

Reports from Reuters say the move will increase the growing presence of the investment bank in Japan and the announcement is expected soon.

Mr Ozeki has been managing director and co-head of M&A in Japan at UBS in Switzerland.

The move is yet to be confirmed and a spokesman from Macquire and a spokeswoman for UBS would not comment on the information.

The news follows reports that UBS is set to increase its regional management in its wealth management units.

Raoul Weil, global wealth management chief executive, told the news agency: "The further expansion of our business now calls for a strengthening of our local presence, so that we can make decisions more quickly."

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