Nation

Yamaichi Securities Co., a major Japanese investment firm, has named Taro Yamada chairman of its New York-based subsidiary Yamaichi International (America) Inc. Yamada succeeds Takeshi Naito, who has returned to Japan to become the senior managing director of Yamaichi Investment Trust Management Co. Yamada has been chairman of Yamaichi's London-based subsidiary since earlier this year. He will divide his time between the two operations.