Lyxor has hired Hirosuke Uraoka from Daiwa Securities as head of ETFs for Japan.

Based in Tokyo, Uraoka (pictured) will be responsible for the growing the ETF arm of the firm’s Japanese business.

This includes capitalising on new business opportunities in the rapidly expanding Japanese ETF market.

The firm said Japan is a key country as it is the largest ETF market in Asia with approximately $450bn assets under management (AUM).

In the newly created role, Uraoka will be report to Naohisa Morita, head of asset management products, Japan, at Société Générale, and Christopher Friese, head of Lyxor ETF Asia-Pacific at Société Générale.

Uraoka has spent his entire career in various divisions of Daiwa Securities including the capital markets group in Europe between 2014 and 2017 before becoming a director at the firm in Tokyo.

Last month, it was reported Société Générale is preparing to sell-off Lyxor with "interested parties" including Amundi and DWS already contacted about the sale.