Earlier this year, a Tokyo-based compliance officer was ready to call it quits. A job at an asset manager entering the country had fallen through after two months of painful negotiation.
Within two weeks, however, he was swamped with offers from a hedge fund, a cryptocurrency outfit and another investment firm offering base salaries of close to ¥30mn ($204,000). He was 69 years old.
The compliance officer’s experience underlines both the frenzy of interest Tokyo is attracting from global financial institutions, which could finally transform it into one of the world’s pre-eminent financial capitals — and the stumbling blocks that remain.