NEW YORK – April 7, 2026 – SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Gagan Sobti as Head of Macro Rates Trading as the group continues to strengthen its global sales and trading business.

A managing director based in New York, Gagan will lead the Macro Rates Trading business, with a focus on strengthening the firm’s trading capabilities, risk management framework, and product offering to support the needs of a growing global institutional client base, working across the volatility and linear rates desks. He will partner with colleagues across SMBC Group, including Sales, Structuring, and Risk.

Gagan brings extensive experience across macro rates, interest rate volatility, and structured products. Previously, he served as the Head of USD Interest Rate Volatility at Bank of America Securities, where he oversaw trading, risk management, and hedging strategy across the rates volatility and central funding desk and played a key role in enhancing models, analytics, and liquidity provision. He has prior experience in quantitative trading and portfolio management, including managing macro and cross‑asset volatility strategies.

Gagan will report to Masahito Nonaka, Head of Global Markets, Americas, who commented: “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."

About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 120,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Americas Holdings, Inc., SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. (collectively, SMBC Group Americas Division).

For more information, please visit www.smbcgroup.com.

Contact MediaRelationsAmericas@smbcgroup.com