The deputy chief executive effectively succeeded former chief executive Pierre Ferland who will retain his existing role as regional head of sales and trading.

Mark Henderson, also most recently MUFG Securities Asia chief risk officer, will take on the leadership role after 18 years with the Japanese financial giant. Prior to his time with MUFG where he worked in both the EMEA and Asia region, Henderson also worked in credit risk at ANZ Group.

«With his extensive experience at MUFG, both in EMEA and in Asia, he will be able to help us derive greater connectivity and efficiency as we continue to strengthen and align the structure of our global securities business model to best serve our clients,» said Takayoshi Futae, chief operating officer international for MUFG Securities.

The broader Mitsubishi UFJ Group undertook a regional cost-cutting exercise last year which included 60 job cuts – or 40 percent of its workforce – in its Hong Kong, Singapore and Sydney-based securities units.