Bank of America Merrill Lynch has appointed a new head for its equities trading division in Japan.

In a memo seen by WealthBriefingAsia, Eugene Iwami, head of Japanese equities trading, will have the sole responsibility for the division, which previously had a co-head structure. 

Iwami replaces Paddy Hogan, who is moving to New York to take care of the US arm of BoA Merrill's Japan business and to oversee efforts to boost revenues from US clients with active Asian investments. Also moving is co-head Hiroyuki Kaneda, who has been named to the newly-created role of vice chairman of Japan equities. Iwami and Kaneda will then report to Olivier Thiriet, head of Asia-Pacific equities, and Jiro Seguchi, country executive for Japan.

Iwami's new position is in addition to current responsibilities, where he reports to Arnaud Droitcourt, the regional head of equities trading. 

The increased international interest in Japan's growing equities sector has prompted the company to go on a hiring spree to meet demand. Since June 2013, the bank has hired 12 to its Japan equity sales and trading division, including Stephen O'Shea, the former Morgan Stanley banker and now head of sales, sales trading and execution services for Japan equity products.