Societe Generale has recruited a new head of Prime Services for Japan – the division which incorporates Prime Brokerage and Clearing, Global Execution Services and Cross-asset Secured Financing.
SocGen integrated the Japanese operations of Newedge – the derivatives brokerage it took full ownership of in 2014 – in May of this year.
Ramir Cimafranca – a former Newedge employee – has taken up the role as a result. Newedge was previously half owned by Credit Agricole.
In a media statement, a SocGen spokesman said Cimafranca will be based in Tokyo and report to Koji Shimamoto, director and executive vice president of Societe Generale Securities Japan.
He will also report regionally to James Shekerdemian, head of prime services, Asia Pacific and global head of prime brokerage sales.
Cimafranca has spent the majority of his career in Japan, having started out as a broker for Japanese Government bonds and EuroYen futures and options in 1990.
In 1998, he joined SG Securities Japan (Fimat) as a sales manager for index derivatives and cash equities and became head of listed derivatives in 2008 when the company merged into Newedge Japan Securities.
In 2010, Cimafranca became head of institutional sales for Newedge in Hong Kong before joining SocGen in 2015 after the integration of the Newedge business into SocGen’s operations.
Cimafranca is a graduate of the International University of Japan with a degree in International Relations and completed his post-graduate in Economics at the University of the Philippines.