UBS has rehired Masazumi Toriyama to lead its Global Banking division in Japan, signaling a renewed push into the country’s booming investment banking market. According to an internal memo seen by Reuters and confirmed by the bank on Wednesday, Toriyama will assume the role on August 4, taking over from interim head Yasunori Saku, who will transition to chairman of Global Banking Japan.
Toriyama previously spent 18 years at UBS before departing, and his return comes as the bank eyes a major expansion in Japan. A UBS spokesperson stated that the firm plans to increase the division’s headcount by 50% to meet rising demand driven by Japan’s evolving corporate governance landscape and a resurgence in M&A activity amid inflationary pressures.
UBS joins a growing list of global banks scaling up operations in Japan. Earlier this month, Citigroup hired Akira Kiyota, a veteran banker from Nomura Holdings, and named Taiji Nagasaka as co-heads of investment banking in Japan—highlighting intensifying competition for top talent.
As part of the leadership reshuffle, UBS’s current chairman of Global Banking Japan, Aki Nakagawa, will move into a general advisory role. Meanwhile, Masashi Oka, an independent director at NEC Corp, will join the bank as a senior adviser.
The hiring of Toriyama and broader strategic appointments come as global financial institutions seek to capitalize on Japan’s increasing appetite for cross-border deals and governance-driven corporate transformations. With Japan’s investment banking sector heating up, UBS’s bold move aims to secure a stronger foothold in one of Asia’s most dynamic markets.
