Citigroup Global Markets Japan Explained

Citigroup Global Markets Japan Inc. シティグループ証券株式会社
Type:	Subsidiary
Location:	Chiyoda, Tokyo (HQ) Osaka, Osaka (Branch)
Key People:	Luke Randell (president & CEO, representative director)
Industry:	Investment banking Securities trading
Parent:	Citigroup
Location Country:	Japan

is the division of Citigroup that operates in Japan. It provides investment banking services.

History

Nikko Cordial and Citigroup established a joint venture in Japan in 1999, later called Nikko Citigroup, which operated through a "branch office" in Naha, Japan under the trade name .

In October 2007, after acquiring a 68% interest earlier in the year, Citigroup acquired the minority interests in Nikko Cordial.^[1]

In September 2009, Citigroup sold Nikko Cordial to Sumitomo Mitsui Financial Group.^{[2] [3]}

The investment banking business remained as Citigroup Global Markets Japan.^[4]

Notes and References

1. News: Citigroup to buy rest of Nikko in $4.6 bln deal . David . Dolan . Edwina . Gibbs . . October 2, 2007.
2. News: Citi closes sale of Nikko Cordial to SMFG . Juan . Lagorio . . September 30, 2009.
3. Sumitomo Mitsui Banking Corporation’s Acquisition of Nikko Cordial Securities Inc. as its Wholly-Owned Subsidiary, Commencement of Operation by Nikko Cordial Securities Inc. as Securities and Investment Banking Company, and Establishment of Business Cooperation between Both Companies . . October 1, 2009.
4. Web site: Citigroup Global Markets Japan Company Overview . Citigroup.