Morgan Stanley hired Naoyuki Kumon, formerly Societe Generale SA’s head of sales to Japan’s regional financial firms, as global banks intensify competition for business from local lenders. Kumon joined Morgan Stanley MUFG Securities this week in a similar role, according to people familiar with the matter. The move follows broader hiring activity among foreign banks targeting Japan’s regional institutions, including recruitment efforts by UBS Group AG. Morgan Stanley MUFG Securities is expected

Morgan Stanley hired Naoyuki Kumon, formerly Societe Generale SA’s head of sales to Japan’s regional financial firms, as global banks intensify competition for business from local lenders. Kumon joined Morgan Stanley MUFG Securities this week in a similar role, according to people familiar with the matter. The move follows broader hiring activity among foreign banks targeting Japan’s regional institutions, including recruitment efforts by UBS Group AG. Morgan Stanley MUFG Securities is expected to post a fourth consecutive year of record net revenue for the year ended March.