Goldman Sachs Group Inc. has hired Naohiko Baba as its chief economist for Japan, drawing on a former central banker and specialist in financial markets.
Baba, who led financial systems analysis at the Bank of Japan, will start work later this month, Kathy Matsui, head of economics, commodities and strategy research for Asia at Goldman Sachs in Tokyo, said Wednesday.
Goldman Sachs joins Mitsubishi UFJ Financial Group Inc. in attracting BOJ officials as lenders ponder the impact of tighter capital rules on their business and the economy.
Baba, who also worked at the Bank for International Settlements in Switzerland, will help the U.S. firm examine how changes to the global economy and financial system affect Japan.
"We weren't looking for just any macroeconomist; we were seeking someone with a unique combination of strong research expertise, markets experience plus a global perspective," said Matsui, who is also chief equity strategist for Japan. "Throughout his entire 18-plus year career with the Bank of Japan, he has conducted extensive research on the relationship between Japan's economic fundamentals and financial markets."
The joint venture Mitsubishi UFJ Morgan Stanley Securities Co. hired Junsuke Senoguchi from the BOJ this month as a senior analyst for the financial industry.