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By Paul Kilby
NEW YORK, Dec 9 (IFR) - Sumitomo Nikko has hired Wilfried Marchand to head the Japanese bank's effort to originate and distribute Latin American project bonds.
Marchand comes to SMBC Nikko after an 18 year stint at BNP Paribas, where he was most recently director for origination, structuring and placement of project bonds.
SMBC Nikko, a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC), was created after Citigroup agreed to sell Nikko to SMBC in 2009.
Marchand's move comes as the Japanese mega-bank seeks to leverage its lending strength to win bond business in Latin America and increase its debt distribution capabilities.
In August SMBC hired Kristie Pellecchia from BNP Paribas to be director of loan syndications in the US and Latin America.
Other Japanese banks such as Mitsubishi and Mizuho, which are also big lenders in the region, have also been building their DCM operations in a similar manner.
Marchand will report to Yoshihiro Satake, who is head of DCM Americas at Sumitomo Nikko. (Reporting by Paul Kilby; Editing by Marc Carnegie)