Barclays Taps Hiroshi Minoura as Chairman of Investment Banking Japan to Drive APAC M&A Growth

The appointment of Hiroshi Minoura as Chairman of Investment Banking in Japan represents a strategic move by Barclays to deepen its presence in one of Asia’s most mature but dynamically evolving markets. Minoura’s long history in Japanese banking—first at SMBC, then at Bank of America-Securities—and his advisory role at Barclays since mid-2024, provide both continuity and credibility for Barclays’ Japan strategy. [1][2]

Japan is undergoing structural shifts: corporate governance reforms, a weakening yen, and rising cross-border M&A are opening opportunities for foreign investment banks with global execution capabilities. Onto this backdrop, Barclays is betting that elevating a deeply networked local banker will strengthen deal origination, advisory execution, and cross-border transaction flow. Minoura’s remit—to lead major strategic deals, expand client coverages and deepen client relationships—directly matches these trends. [2]

However, this appointment must also be viewed in the light of Barclays’ wider Asia-Pacific investment banking restructuring. Earlier in 2025, Barclays announced major leadership changes across APAC: new heads for capital markets, M&A, Australia, India, etc., part of a three-year plan to cut £2 billion in costs and reallocate capital toward higher-return areas. [3][4] Japan represents a high-potential but competitive market; despite Minoura’s credentials, competition from local banks (and other global ones) will be strong.

Strategic implications: Barclays may win more cross-border mandates involving Japanese firms, both inbound and outbound; strengthen its ECM/DCM businesses in Japan; and improve margins and return on tangible equity (RoTE) in the Japanese IBK business. On the flip side, success depends on capitalizing on yen weakness, sustaining relationships with clients wary of foreign banks, navigating regulatory complexity, and delivering high-quality execution to justify elevated senior leadership.

Open questions arising include: how Barclays will allocate capital to support this expanded ambition in Japan; how its Japan investment banking RoTE compares currently and what target level it now views; which sectors are likely to generate most cross-border deal flow; and how Minoura’s role intersects with other APAC leaders within Barclays’ investment banking hierarchies.