Daiwa Securities SMBC Europe will increase its London fixed income staff by as much as 25% in the next two years, as the Japanese securities house pursues global fixed income ambitions.

Under the plans, which will see Daiwa rebuilding its team to as many as 80 in the next 12 to 24 months, the European arm of the securities house has promoted Andrew Asbury, its head of global debt syndication.