SMFG Ramps Up Quant Hires to Lessen Reliance on Trader Instincts

Sumitomo Mitsui Financial Group Inc. is hiring more quantitative specialists who’ll utilize artificial intelligence to match players in the markets, rather than gut-feel traders.

Japan’s second-biggest bank is already deploying AI-driven pricing in parts of its business like currency trading, according to Arihiro Nagata, its global markets head. He added the bank’s competitors in this space are no longer just other lenders, but include hedge funds and other investment funds.