Bloomberg News reports that Mizuho managed $31.7bn in U.S. investment-grade note offerings in the fiscal year to March 31, excluding self-led deals, making it the 10th-biggest underwriter in the period, five places higher than a year earlier, according to data compiled by Bloomberg. Mizuho said in April last year that it hired bankers from RBS to join its underwriting business in the U.S. after Mizuho’s purchase of the U.K. firm’s loan assets in North America.
“Our debt capital markets business in the U.S. is expanding strongly and we want to capture upcoming opportunities,” Yuzo Kanamori, an executive officer at Mizuho Securities and head of global investment banking said in an interview in Tokyo. Mizuho plans to boost staff at its U.S. securities unit this fiscal year by about 50 to 60 people, and that will include hires for its underwriting business, he said, declining to specify further.
Mizuho group CEO Yasuhiro Sato said in May that the hires from RBS helped boost the Japanese bank’s presence in the U.S. market “massively,” and the firm set a target in May of being “10th or above” in managing investment-grade bond offerings by U.S. companies.
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