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Lehman makes JGB moves

Four Tokyo appointments include the hiring of Makoto Yamashita as chief JGB strategist.

Makoto Yamashita has been scouted by Lehman Brothers to take on the post of chief Japanese Government Bonds (JGB) Strategist as the investment bank continues to bolster its presence in Japan's domestic bond market. In his new role, Yamashita will assume responsibility for providing JGB investment strategy and analysis to Lehman's domestic Japanese clients.

Yamashita joins Lehman Brothers Tokyo from UFJ Tsubasa Securities where he was a senior manager in the investment strategy department and focused on the JGB market.

In addition Yamashita, Lehman has also hired Hirotaka Kanamori and Naoto Inchinoe as JGB traders. They will both report to Katsuya Miyoshi, who in August 2004 as head of JGB trading. Also coming board, Tomohiro Morikawa has moved to Lehman's JGB sales team and reports to Jun Maeba, head of Yen interest rate sales.