Tokyo-Mitsubishi International (TMI), a subsidiary of one of Japan's four biggest banks, has promoted Jean-François Lucas to head of fixed-income sales. Lucas, who joined TMI in February 2001, will report to Hideki Suruga, who was appointed managing director and head of fixed income in July following the bank's decision to restructure its debt business. TMI reorganised the debt team after Haji Watanabe, head of new issues and structuring, decided to return to Tokyo.

It does not have a strong franchise as a bookrunner in the European bond market, although the bank regularly participates as a syndicate member.