Societe Generale has announced the appointment of a new Head of Prime Services in Japan, with immediate effect. The French lender has made several changes to its management across Asia this year.

Based in Tokyo, the new appointed Ramir Cimafranca will report locally to Koji Shimamoto, Director and Executive Vice President, Societe Generale Securities Japan Limited and regionally to James Shekerdemian, Head of Prime Services, Asia Pacific and Global Head of Prime Brokerage Sales.

In this new role Cimafranca will develop Prime Services in Japan which is composed of Prime Brokerage & Clearing, Global Execution Services and Cross-Asset Secured Financing the bank said in a note to finews.asia today.

Leadership Change in Japan

The bank recently announced the appointment of Raphael Cheminat as Group Country Head for Japan, with effect from 1 September 2016.

Cimafranca's career spans over 26 years in derivatives and cash equities, most of it within Societe Generale in Japan. He started in 1990 as a broker for Japanese Government Bond (JGB) and Euroyen futures and options. In 1998, he joined SG Securities Japan Limited (Fimat) as a sales manager for index derivatives and cash equities.

In 2008, he assumed the role as head of the listed derivatives when Fimat merged into Newedge Japan Securities Limited. In 2010, he took on a regional role as the Head of Institutional Sales for Newedge in Hong Kong, before joining Societe Generale in Hong Kong in 2015 following the integration of Newedge.

Decent Results

This appointment follows the successful integration of Newedge in Japan in May this year. With Societe Generale's recognized expertise in Global Markets and the solutions provided by Prime Services, the bank has a unique position to provide one-stop solutions to a broad range of clients.

Yesterday the bank reported decent results in the second quarter with good commercial and financial performance of all the Group’s businesses. The Group generated EUR 2,385 million of Group net income in the first six months of 2016, substantially higher than in H1 2015.