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Friday, August 18, 2017

Friday Feature Book Review: Yen 円 ! (FX Can Be Murder !) by Guy Stanley 円 (外国為替は致命的です!) ガイ・スタンレー

In the world of FX trading, murder is the ultimate trade in the city of Tokyo. This is a great novel about Tony Moore, who went to the land of the Rising Sun, Japan, to make it big in currency trading. Originally from the UK, he trades in one of the world's most liquid foreign exchange markets in the world, the Japanese Yen. However, he pushes his luck, finds the lifestyle of Japan, more than he bargained for, and ends up dead. He had a bad leg, and used a cane, but sometimes it is not just the steps that can be full of accidents. His body found broken in a supposed drunken fall. Akasaka can be a dangerous place at night it seems, but perhaps not from a fall.

In comes Kevin Nicholls, who takes over as the new head of FX at the firm. Nobody seems to want to talk about what happened, not even Tony's seductive Japanese girlfriend. The story is never crystal clear, and neither is the delicious sake, more cloudy overall. There seem to be many layers to the financial markets in Japan, and Kevin digs deep to look into what really happened. Roppongi, Shinjuku and Otemachi all are parts of Tokyo, and they all have secrets, deadly ones. The images of the street live and the atmosphere of each locale is vibrantly described in great detail. You can almost smell the breeze change in the air from every page.

What clearly stands out in this Tokyo, based story are the locations used by the author, Guy Stanley. He clearly did a great amount of research. They are all real and can be visited today by any tourist. Having been to many of the places, it was great to get a better sense of what could have happened and relive the story. The Japanese Yakuza, banks, securities firms and a bunch of other financial market players are all involved in this web of murder, but who is at the center?


The Top 3 Takeaways from this book that really impact any reader are:

1) There is a side of Japan, that few tourists really see, and it is better off that way. This is often a good way to keep the peace.

2) The financial markets in Japan, have their own ways not easily understood or worth tampering with by outsiders.

3) The long history between Yakuza gangsters and the financial markets is an old one. They are sometimes intermingled.

This book was written over 20 years ago, but still packs a punch and passes the test of time. If you like FX markets (or any other), and enjoy reading about the underbelly of Japan, then this is for you. It was the people portrayed that made this so enjoyable. The sleazy tabloid journalist Araki, the American woman Jennifer, looking for her missing brother, and a host of other characters were all really spot on and perfectly described. If murder mystery is your taste in books, and if financial markets make it even more appealing, then this is a great read that fully satisfies. Highly recommended.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください


For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                  
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email pinkmark@tmjpartners.com                 Email nagasawa@tmjpartners.com

Friday, August 4, 2017

Friday Feature Book Review: Think Rich to Get Rich by Larry John リッチを取得するために、豊富な人のように考えて(億万長者の考え方) : ラリー・ジョン

As the 5 word book title implies, you need to prepare for true wealth. This book states that it is very much a mental game you have to train and get ready for. There is no magic pill that you can suddenly take that will avoid this action. You really have to "Think Rich to Get Rich" that much faster in a more focused way. If wealth is your goal, this book is for you. The real difficulty though is, can you clearly face your own real goals towards wealth? An even more difficult challenge is can you actually pin down what wealth as a concept means to you?

Curiously, the author challenges you right at the beginning to define what "Rich" really is. To every person it may be a different thing, but at least it needs to be defined. How do you define something that is intangible? Lifestyle is a starting point. The author makes a good case for what a rich person is. How he or she lives, within what means, and how that can be represented. Strangely, it is not a number. This was amy first surprise, and I was in for many more. It got my brain stimulated as I got surprised by what the author had to say.

I was expecting a more basic attitude of X amount can be reached of you do Y by time Z. I was wrong. If your lifestyle is without spending control, any large fortune will run out, making the owner go broke. A large amount of celebrities have been in this situation. Even second or third generation business owners have struggled with this hard reality. Within private banking or family offices, there is a clear fear. Going back to the Dutch fortunes of Amsterdam around 1600, poor children could only afford wooden clogs, not leather shoes. Formerly wealthy families who went bust, were often said to go "clogs to clogs in 3 generations". It remains a financial challenge even in this day.

There is sadly no solid short cut. Even a billionaire can go broke. Donald Trump went broke in the USA, recently Brazilian billionaire Eike Batista went broke. It can happen, and the challenge is why. Spending, leverage, and preparing for your investments, this is what the author explains very well. However, it all must start with a clear plan. Thinking is never easy, especially when it concerns your own future. Given a few days to absorb, any reader starts to understand the point, and how to take personal action. The real test is can you then think of and then define your own wealth plan.

You learn in a very easy way to understand the basics. What you want, what you need, and what you work for, all have to be in sync. Without a plan, you go broke no matter how much money you make. You have to imagine your dreams, goals and desires clearly, in order to recognize them when they appear or walk by. If you think that an amount of cash will create this level of satisfaction, you may find yourself trapped on a rat race ride without end, or worse, one that will end badly.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is no limit to being prepared about your own life. It you can figure out where you want to go, then you can recognize all of the signs of how to get there. It is a mindset that you learn to trust and act upon.

2) By having a destination, everything else around you become a simple choice of being helpful or not to your plan. Do you want A? yes, but will it help you get to your destination? if not, then put it off and consider it later. Focus on what you really need to get where you really want to go.

3) The long history failure in many both rich and poor proves that no plan leads to a failed destination. Every person needs to think for themselves and define where they want to go. It is a classic case of, "if you do not know where you are going, you will never get there." You will also not know when you pick up what you need, even when it is right in front of you.

All core rules are worth building any career and wealth goals around. They are foundations that help define why you work, for what purpose, and for what return and satisfaction personally. If you wonder about how to be happy or how to find personal satisfaction, this may help in a small way. Very much worth while as a read. This book stretched my mind and challenged my own values both financially and personally, two ways that I never expected. Highly Recommended.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください


For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                  
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email pinkmark@tmjpartners.com                 Email nagasawa@tmjpartners.com

Friday, July 28, 2017

Friday Feature Book Review: "The Big Short" by Michael Lewis 世紀の空売り―世界経済の破綻に賭けた男たち: マイケル・ルイス

This is a great follow up to Flash Boys, Moneyball, and Liar's Poker. The author has a great way with words and you get a real sense of the traders he speaks to. I was very impressed with this very detailed overview of what what really took place in frothy global credit markets that lead to the mess we discovered later ending both Bear Stearns, and Lehman Brothers. I was not aware of many of the implications he touches on and how they changed prices for all markets.

We learn about who saw the storm coming well ahead of the trouble to follow and how difficult it was to put on the right trade even if you wanted to. It reminded me of the old saying, "thinking of a new idea is not the difficult part of business, it is making the new idea a reality, and profitable, that is the difficult point". 

The most curious insight was how three amature investors behind Cornwall Capital, did so well shorting CDS, and related trades. For these three to put together a trade so innovative and small in scale at first but so attractive ultimately is a David & Goliath story in many ways. The profile of Michael Blurry, from Scion Capital is very revealing. You often have to be a clear outsider, in order to see what others do not, or refuse, to see around them. There is not always wisdom in crowds. Being able to see a bigger picture can be quite painful. There is no easy way to make a fortune. Mr Market always respects reality in the end. He was also fascinating as he is far from "typical". He is not how you could describe one of the first doctors turned financial bloggers turned hedge fund managers. 

It was the personalities and details of each character, along with their individual struggles, that makes this a page turner. I know how the sad story ended, but that did not matter. I wondered about what I would do in a similar situation. If I could see the future in any financial sense so clearly, yet in such a anti-social manner to so many others in the market, would I continue? Would I just give up and not follow through like these remarkable people? I am not sure given what I have read and given how long it took to be redeemed in the end. It seems in many ways like a pyrrhic victory for some. This was a great profile of the key players in this doomed market, and so many others in the background. It was a fascinating book in order to better understand what it took for them to get their goals and not give up a clear goal that few would widely support. The resistance by many to their correct, but anti-market ideas was often fierce.  Many pioneers go through a similar experience with new ideas no matter what they take on. We all benefit from resistance, but we rarely see how badly it can impact others at the time.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is no limit to being too careful with your beliefs on investment opportunities. Ethics and counter trends are a true test of any financial firm long term.

2) Reputation can be a weapon, but can also be a weakness. Conviction in any single trade needs to be rock solid the more radical is seems to others in the same markt.

3) The long history and legacy of original thinkers making a fortune. George Soros, is one of many examples of top-tier risk takers seeing a chance and going "all in".

This is a real life account of both historic facts and events that were all part of the pre-Lehman Brothers crisis. This is not a story about the Great Financial Crisis of 2008. In fact, it is about what lead to it. Other books like "Too Big to Fail" go into that aspect in much more detail. This book is about what lead only a few, to see opportunity in the frothiness of financial markets around them. I enjoy absorbing whatever views and biases they had before the big credit party ended. It gives a great multi-layered viewpoint of how a real strong minority really saw the crash clearly, but did not look forward to it despite profiting from it ultimately. This was a very worthwhile read, and now a very compelling movie out with a fantastic cast. Deal junkies will be very satisfied.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください


For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                  
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email pinkmark@tmjpartners.com                 Email nagasawa@tmjpartners.com

Friday, July 21, 2017

Friday Feature Book Review: The Fight for the Soul of Morgan Stanley: Blue Blood & Mutiny by Patricia Beard モルガン・スタンレーのための文化的な戦い :ブルー・ブラッド&ミューティニー: パトリシア・ビアード

Big banks seem to have recovered fully in 2017, and Morgan Stanley, under CEO James Gorman, seems ahead of rival Goldman Sachs today. Financial history is tied to both JP Morgan & Morgan Stanley. We now consider Glass Steagall again, but it was in fact this law, the Banking Act of 1933, that split the two in the first place. We now say "too big to fail" after the Lehman collapse, but a similar fear of bank failure in the US, had the same feeling almost 90 years ago. In fact between 1929-1933 over 4000 US banks closed leaving USD400 million in losses to retail depositors. There was no bail out, just panic. Securities had to be separated from banking in the eyes of Congress. 

This was a very different time, when ethics were paramount, and partnerships were dominant. Old school was the norm, and relationships & reputations of partners, true owners, counted for everything. The classic banker then had roll-top desks, with legal handguns allowed to be stored in them! This book covers a wide history including how hats were to be worn by all partners until JFK, plus many other details of the time, came as a curious eye-opening surprise. This book is a great review of how little finance has changed over time. The firm was born after the great depression and two years after the Glass-Steagall Act. The first part of this book explains how Howard Stanley and J.P. Morgan Jr. created a new Investment Bank, Morgan Stanley in 1935. 

J.P.Morgan Jr.'s  quotes and motto have been a part of modern history, that these 2 quotes certainly represent the core values of the firm. "The banker must at all times conduct himself so as to justify the confidence of his clients in him and thus preserve it for his successors." This seems to contrast greatly with the wild stories of bankers behaving badly today. However, more to the point, "I should state that at all times the idea of doing only first class business, and that in a first class way, has been before our minds." It is all very powerful stuff, and a solid foundation of values for a great financial institution.

The second part of this book, is about how this fell apart after a major M&A miss-step, and how the company had to find its way back to the top of investment banking again. Retail and institutional groups do not mix well culturally, and this book just proves this case. In many ways, this is a business case study on why not to merge different cultures like Dean Witter & Morgan Stanley. New CEO Phil Purcell was very unlike old CEO John Mack, and the difference showed. The clues were not clear, but more subtle, and took years to fester, before being brought to the surface. In many ways, this seems like a Harvard Business School case study, on what cultural gaps to avoid in major M&A deals.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is no limit to being too careful with other people's money. Ethics are a true test of any financial firm long term.

2) Reputation can be a weapon, and was often used by JPMorgan. His rivals sometimes gave up before they should have due to a fear of defeat.

3) The long history and legacy of Morgan Stanley, as a white shoe firm, is impressive. So too are many of the deals done with Fortune 500 firms going back 80+ years.

This is a real life account of both historic roots and recent political battles in the firm. It is worthy of any equal Julius Caesar battle with Brutus, or other senators in ancient Rome. Secret meetings, cultural clashes, men in the shadows all come into play. It has many acts that seem like a thriller, so best to read and enjoy the book as it is told smoothly and with high style. If you like financial history, M&A deals, excitement and thrills from a boardroom, then this is for you. Deal junkies will be very satisfied.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください


For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                  
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email pinkmark@tmjpartners.com                 Email nagasawa@tmjpartners.com

Friday, July 14, 2017

CEO Asia Q&A: 金融インタビュー : James Hawrylak: Sustainalytics (AI Quant Edge) ジェームズ・ホリラック: サステイナリティクス (AI クオンツデータ)

Today, we interview James Hawrylak, the Institutional Relations Director of Sustainalytics in Tokyo. James has resided in Asia for 25 years, developing his career in general management and sales & marketing leadership roles while building North American franchises in Japan, Greater China, Korea, Singapore, and Australia.

He has extensive leadership experience gained while running the APAC operations of two Xinhua Finance-portfolio companies: cross-border investor relations boutique Taylor Rafferty and proxy advisory service Glass Lewis. James was since the Executive Director in charge of ISS's commercial initiatives in APAC until June of 2016. In September, 2016 he established the Sustainalytics Tokyo office.

 
1.    When did Sustainalytics start and how many staff are there today globally? What is your focus in Japan, and have you closed any deals of note in Asia?
An early pioneer and driver of the environmental, social and governance (ESG) movement, Sustainalytics’ current CEO Michael Jantzi originally founded Jantzi Research Associates in 1992. Following years of successful collaboration with several leading European ESG research providers, Jantzi Research Associates merged with these firms in 2009 and formed what is known now as Sustainalytics.

Today, Sustainalytics is an independent ESG and corporate governance research, ratings and analysis firm with 13 offices worldwide.  We support hundreds of the world’s leading asset owners and investment managers with the development and implementation of responsible investment strategies. Our company consists of more than 350 staff members, including 170 analysts with varied multidisciplinary expertise of more than 40 sectors.

Our size and history are worth noting because both position us to leverage our three decades of experience and global footprint to develop cutting-edge solutions such as our ESG Signals, a quantitative artificial intelligence (AI) solution that combines ESG big data, quantitative modeling, and machine learning to identify portfolio risk and opportunities.

Sustainalytics continues to be a growing global company with an interest in entering new markets where the integration of ESG and corporate governance considerations into the investment process appears promising. Japan is such a market since it is the fastest growing market for sustainable and responsible investment, according to recent industry reports. With our office in Tokyo, we are well positioned to capitalize on these market opportunities and better serve our Asian clients directly and global clients with portfolio holdings in the APAC region. In Japan, we have been fortunate to expand our footprint with leading firms such as the Development Bank of Japan, Mitsubishi UFJ Financial Group, Mitsubishi UFJ Trust and Banking, Nissay Asset Management, and Sumitomo Mitsui Asset Management. We hope over time to partner with increasing numbers of assets managers who are looking to incorporate ESG into their investment processes.

2.    Where do you see the opportunity for your firm to grow? is there any key advantage you have today in Japan or Asia?
While there continues to be growth opportunities in every major region worldwide, we are seeing significant growth in ESG investing in Japan, followed by Australia. In both Australia and New Zealand combined, responsible investment assets have grown from 2014 to 2016 to reach $515.7 billion, and to a point where in Australia, sustainable investments now account for 50 percent of all professionally managed assets. Our clients in Australia and New Zealand are turning to us for our ESG research to help inform their ESG integration and exclusionary screening practices. We anticipate continued organic growth in both countries for our products and services.

We also anticipate strong growth in Japan as more asset managers incorporate ESG into their investment processes. As one of the largest, most established ESG firms in the world, we believe our key advantages in Japan lie with our ESG company coverage (7,000+ companies) as well as our strong on-the-ground presence. Our Head of Asia Pacific Research is now based in Tokyo, and we have a team of four ESG analysts, who leverage our broader global research infrastructure. In addition, we have a client services manager, and myself, leading the commercial side of growing the business here. In Japan, we see large-scale growth opportunities across asset classes: equities, fixed income, and infrastructure. For equities, research, data, and screening tools are in demand. For fixed income, green bond issuances, for which we write second party opinion research, are at an all-time high and growing rapidly. And for infrastructure, we are seeing new demand for our expertise as Tokyo transforms into a green metropolis.

3.    What attracted you to this opportunity to pursue research on the ESG risks of corporates in Japan?
I had been working in the corporate governance-related space since 2002, but I have been interested in environmental and social issues since I was a university student. Since the fall of 2013, Japan started on a path of drastic reform in corporate governance while a quieter movement into ESG also started to gain momentum. At the time, investor engagement was almost completely limited to proxy voting, but following a series of market developments such as the Japanese Stewardship Code, the launch of the JPX-Nikkei 400 governance index, the Corporate Governance Code, MITI’s Ito Review, the Corporate Law amendment on governance, and the large-scale changes in the GPIF’s asset allocation, governance reform had become the centerpiece of Prime Minister Abe’s Third Arrow. When the GPIF signed the UN Principles of Responsible Investment in the fall of 2015, the heavy lifting was well on its way to completion, and the transition from governance-based shareholder engagement to ESG-based stakeholder engagement was in full swing, and Japan was poised to go from an ESG laggard to an ESG leader seemingly overnight.

Sustainalytics had long been on my radar, and while governance always interested me, ESG was my passion. So, I jumped on the opportunity to open the subsidiary in Tokyo and build the team and business. The ESG market globally, and especially in Japan, continues to rapidly expand and evolve, and Sustainalytics, with its singular focus on ESG, its well-developed reputation as the quality play in ESG research, and its commitment to Japan with a team of seven, is well positioned for long-term growth in the country.

4.    Has this opportunity within analytical research data in Japan or Asia changed in any way due to government actions?  Where do you see ESG going in Asia and Japan over the coming years?
When it comes to ESG expansion, government initiatives have always been one of the most important drivers globally, and it is no different in Japan. Japan’s USD 1.3 trillion GPIF is part of Japan’s Ministry of Labour, Health, and Welfare. So, when the GPIF leads, the market follows—and the GPIF has expressed a strong commitment to develop best-in-class ESG standards, and we believe that this commitment will translate into further appreciation of the value of understanding ESG risk in both investment and proxy voting decision-making procedures.

5.    Are there gaps in understanding that overseas investors do not fully understand that Sustainalytics try and fill regarding Japanese companies? Are there assumptions by overseas investors that are not likely to be true in Japan or Asia that need education?
Yes, one of the most important reasons for opening our Tokyo office was to build a research team with native expertise to research Japanese companies with local insights. Sustainalytics covers about 2,900 Japanese companies in our Controversies research and about 600 Japanese companies for our ESG reports, and now with a team of four Japanese-speaking analysts in Tokyo, every effort has been made to ensure that Japanese primary source materials are researched and used in our research reports on Japanese companies. Japan equities constitutes a material slice of the holdings of large global pension plans, and getting Japan right is critical to overall portfolio performance.

The gaps in understanding that we try to fill generally stem from cultural and linguistic differences in the name of disclosure. Japanese companies tend to disclose less than their peers in North America or Europe. And this sense of humility and understatement that the Japanese often try to communicate quite often tends to get mistaken as a lack of desire to engage. This is where Sustainalytics comes in. With our four Japanese ESG analysts in Tokyo, we are capable of going through voluminous Japanese language disclosure, engage directly with Japanese companies, ministries, regulators, etc., gather feedback, and incorporate it into our internal databases.

6.    Are there project partners or investors that you are searching for at this time for your unique AI analytical product opportunities?
Yes. Quant funds and any other multi-strategy hedge funds that would be interested in testing ESG Signals, which combines ESG data, quantitative modeling and machine learning to identify portfolio risk and opportunities. In the past, ESG integration was limited to a few indicators that showed correlations with alpha and beta, and big data techniques were not being applied to large sets of ESG information. Today, asset managers are looking to integrate more ESG research into their quant models.

ESG Signals explores past correlations between ESG factors, financial and trading variables with three-month forward returns. Heads of research and portfolio managers can use ESG Signals as a portfolio monitoring, alerting and investment decision support tool.

I believe ESG Signals is unique in its approach and could generate some real interest in the quant community. An early adopter would be one of a small handful of players in the market using such a tool, and I think that having such a new and unique view on performance indicators would be enough for most hedge fund managers to have some interest in exploring our AI capabilities.

7.    Where do you see your firm growing the most in the next 2-3 years globally? Will this continue or change into another new direction?
There are several market trends propelling the future growth of our business. While equities have historically been the focus for responsible investing strategies, we are now seeing increasing asset class diversification.

First, we are seeing growth in ESG among retail investors. While we do not directly serve retail investors, we are working with many of the world’s leading investors to help them build ESG products and services for their retail clients. We expect this will only continue to grow as investors create more ESG-related products and services.

We are seeing strong demand from investors looking for credible and transparent sustainability bonds. Green bond, social bond and sustainability bond issuances reached USD 87.6 billion in 2016, and the Climate Bonds Initiative estimates the market to reach USD 130 billion to 150 billion in 2017. We have leveraged our deep understanding of investor expectations and market best practice to support a range of global issuers to provide second party opinions, Climate Bonds Verification and ongoing compliance reviews. 

Funding the transition to a low carbon economy and supporting the UN’s Sustainable Development Goals is also leading to more focus on impact and thematic investing. There is a desire by our institutional clients to demonstrate what they are doing as it relates to impact investing and how they are doing it. We are helping investment managers to develop impact frameworks to identify investment opportunities, and constructing frameworks to assess these opportunities.


All of these trends are driving us to create new products and services and enhance existing ones, and our scale and unparalleled subject matter expertise enables us to ensure the long-term relevance of our offerings as investors continue to expand the role that ESG plays in their investment strategies. Those desiring to learn more about our products and services can visit us at www.sustainalytics.com or emailing me at james.hawrylak@sustainalytics.com. We can also be contacted directly on LinkedIn.

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click here. Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください


For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                  
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email pinkmark@tmjpartners.com                 Email nagasawa@tmjpartners.com