July 1 (Reuters) - Citigroup Inc ( C/PN ) has hired veteran

investment banker Akira Kiyota from Nomura Holdings Inc ( NMR )

and promoted insider Taiji Nagasaka as co-heads of investment

banking for Japan, it said on Tuesday.

The appointments, effective October 1, underscore a push by

Wall Street banks to expand their presence in Japan after a

rebound in M&A activity and as companies pursue strategic deals

in a more favourable interest rate environment.

Japan became the largest market for private equity deals in

Asia-Pacific last year accounting for 30% of the region's total

deal value, largely driven by take-private deals, according to a

report by consultancy Bain & Co. That compares to a much smaller

figure of 5% to 10% historically.

Kiyota has worked at Nomura, Japan's biggest investment bank

and brokerage, for over two decades and was most recently senior

managing director and global head of mergers and acquisitions.

Nagasaka currently serves as Citigroup's ( C/PN ) Japan head of

investment banking products and equity capital markets.

In a related move, Masuo Fukuda will assume the expanded

role of vice chair for Japan and Asia North investment banking

while retaining his existing position as vice chair of Citi

Japan.

The hires come as many firms add senior bankers to their

Tokyo operations to capture opportunities in the world's

fourth-largest economy.