SMBC Capital Markets, Inc., a member of SMBC Group, announced on April 7, 2026, the appointment of Gagan Sobti as Head of Macro Rates Trading. Based in New York, Sobti will lead the Macro Rates Trading business, aiming to bolster the firm's trading capabilities, risk management framework, and product offerings to better serve its growing global institutional client base. He will work across volatility and linear rates desks and collaborate with colleagues in Sales, Structuring, and Risk within SMBC Group.
Sobti brings extensive experience in macro rates, interest rate volatility, and structured products. Prior to joining SMBC, he served as the Head of USD Interest Rate Volatility at Bank of America Securities, where he was responsible for trading, risk management, and hedging strategies across the rates volatility and central funding desk. He also played a crucial role in enhancing models, analytics, and liquidity provision. His background includes quantitative trading and portfolio management, with experience in managing macro and cross-asset volatility strategies.
Masahito Nonaka, Head of Global Markets, Americas, to whom Sobti will report, commented on the appointment, stating, "Gagan brings a strong track record of building and managing complex trading businesses to SMBC. His leadership will be an important asset as we continue to expand our macro rates platform and enhance our value proposition for clients globally." This hire is part of SMBC's broader strategy to expand its presence outside Japan and enhance its investment banking reputation.
