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Mizuho Americas

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Mizuho Americas
GenreInvestment Bank
FoundedJuly 2016
Headquarters
1271 Avenue of the Americas
New York City, United States
ParentMizuho Financial Group
Websitemizuhoamericas.com

Mizuho Americas was established on July 1, 2016[1] as a US bank holding company,[2] as the American corporate and investment banking arm of the Tokyo-based Mizuho Financial Group.[3]

Operations

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Mizuho Americas is a holding firm for a variety of financing, securities, treasury services, and aggregating segments in corporate and investment banking.[4] Departments include loan markets, corporate and investment banking,[5] equity,[4] high yield sales & trading, fixed income sales and trading, and leveraged capital markets, which oversees the origination of investment grade and non-investment grade debt products.[6] As of December 31, 2022, its total assets were approximately $2 trillion and total revenues were 605 billion yen.[7]

Mizuho Financial Group’s U.S. operations also include Mizuho Bank USA;[8] Mizuho Securities USA LLC, a U.S. broker dealer engaged in securities;[8] and Mizuho Trust & Banking Co. (USA).[8]

Divisions

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Mizuho Securities USA LLC (”MSUSA”) operates as an institutional brokerage firm, focusing focuses on equity, futures clearing, execution, and fixed income products, as well as specializes in raising capital through mergers and acquisition, debt, equity underwriting, and advisory services.[9] It is an SEC-registered Broker-Dealer[10] and a Primary Dealer of US Treasuries designated by the Federal Reserve Bank of New York.[11] MSUSA is also registered with the CFTC as a futures commission merchant (FCM).[12] MSUSA’s Equity Division provides equity research, capital markets access, and extensive equity and equity-linked distribution and execution capabilities for the equity markets in Asia and the Americas. MSUSA also has a Corporate Access[13] desk that arranges numerous non-deal road shows.[14] In 2010 MSUSA participated as Global Joint Coordinator on Dai-Ichi Life IPO, which was the largest IPO in Japan and 2nd largest globally for the year,[15][16] and in the $6 billion Mizuho Financial Group global offering.

In September 2023, Mizuho Americas won a lead role as underwriter for British multinational semiconductor and software design company Arm Holdings initial public offering (IPO).[17] The IPO was the biggest of 2023, and the largest offering in the technology field since Alibaba Group in 2014.[18]

MSUSA’s Fixed Income Division client relationship list includes central banks, banks, municipalities, hedge funds, asset managers and insurance corporations. MSUSA’s fixed income products include: US Treasuries, corporate bonds, Debt Capital Markets, US Agency Securities, Securities Financing, Strategic Credit Group, mortgage- and asset-backed securities, Japanese Government Bonds, Yen Fixed Income, Emerging Markets [19] MSUSA’s Futures Division provides futures clearing and execution services across a spectrum of institutional clients.[20] MSUSA provides market coverage through Electronic Execution Services, Clearing Services and Voice Execution Services.[21]

Mizuho Bank USA provides banking and financial services, largely focusing on deposits, loans, real estate finance, asset securitization, and project financing services.[22] Mizuho Trust & Banking Co. (USA) provides custody, master custody, and securities lending services. The Company offers a range of custody services primarily for the U.S. securities investment, including securities settlement and safekeeping, collection and remittance of dividend income, corporate actions, cash management, proxy notification and voting, and reporting.[23]

People

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Shuji Matsuura is the company’s chairman and CEO and the president and CEO of Mizuho Securities USA and Head of CIB is Jerry Rizzieri.[24] Michal Katz is the head of investment and corporate banking,[25] Thomas Hartnett is the head of fixed-income sales and trading,[26] and Darlene Pasquill is the head of the equity division.[4]

Acquisitions

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In February 2015, it agreed to buy Royal Bank of Scotland’s (RBS) U.S. and Canadian $36.5 billion corporate loan portfolio, increasing the size of its U.S. corporate loan book by 50 percent,[27] and in April 2015 hired approximately 200 RBS employees across fixed income, debt capital markets, debt syndicate, leveraged finance, loans, and derivatives.[28] In 2021, Mizuho acquired Dallas-based private equity placement agent Capstone Partners.[29] In January 2023, Mizuho acquired a significant portion of Credit Suisse’s agency securitized-products trading business.[30] In 2023, Mizuho announced a definitive agreement for Mizuho to acquire Greenhill in an all-cash transaction at $15 per share, reflecting an enterprise value of approximately $550 million, including assumed debt.[31]

Culture

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In 2020, Mizuho Americas was active bookrunner on Mizuho Financial Group’s $2.5 billion diversity and inclusion bond issue, reportedly a first for a Japanese bank.[32] Mizuho Americas is title sponsor of the Mizuho Americas Open, the first LPGA Tour tournament at Liberty National Golf Course in Jersey City, NJ.[33] The inaugural tournament took place from May 29-June 4, 2023, with Michelle Wie West as Tournament Host.[34] The event has a purse of $3 million, a 120-player field, and an AJGA Invitational component for 24 junior golfers.[35] In 2023, Mizuho started a $500,000 partnership with nonprofit Girls Inc.[36]

References

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  1. ^ "Mizuho Extends Regional Presence with Launch of Americas Holding Business | Finance Magnates". Financial and Business News | Finance Magnates. June 29, 2016.
  2. ^ William D. Hoover (2018). Historical Dictionary of Postwar Japan. Rowman & Littlefield Publishers. p. 240.
  3. ^ "Japan's Mizuho Joins Wall Street in Six-Figure Junior Banker Pay". August 5, 2021 – via www.bloomberg.com.
  4. ^ a b c "Mizuho Adds Darlene Pasquill as Equity Division Head | Finance Magnates". Financial and Business News | Finance Magnates. October 24, 2018.
  5. ^ "LPC: Mizuho eyes US leveraged finance expansion". Reuters. Retrieved 2024-02-08.
  6. ^ "Mizuho Americas makes 5 senior high-yield sales, trading hires". Reuters. Retrieved 2024-02-08.
  7. ^ "Bank Holding Company Performance Report December 31, 2022-FR BHCPR". Retrieved 2024-02-08.
  8. ^ a b c "ANNUAL REPORT". www.sec.gov. Retrieved 2024-02-08.
  9. ^ "Mizuho Securities USA LLC - Company Profile and News". Bloomberg.com.
  10. ^ "Mizuho Securities USA Expands Fixed-Income and Futures with Senior Sales and Trading Appointments".
  11. ^ Rennison, Joe (24 February 2017). "Treasury eyes issuance of 100-year US government debt". Financial Times.
  12. ^ HighBeam
  13. ^ "Mizuho Securities USA Announces 2013 Healthcare Corporate Access Day". MarketWire. Retrieved 21 May 2013.
  14. ^ "2 Firms Share Title of Japan's Top Corporate Access Provider of 2016".
  15. ^ Fujita, Junko (22 February 2010). "Japan's Dai-ichi Life plans $11.7 billion IPO". Reuters. Retrieved 21 May 2013.
  16. ^ "Dai-ichi Goes Big in IPO Plan". Wall Street Journal. 22 February 2010. Retrieved 21 May 2013.
  17. ^ Uranaka, Taiga; Tan, Gillian (2023-09-07). "Mizuho's SoftBank Ties Pay Off in Wall Street Leap With Arm IPO". Bloomberg.com. Retrieved 2024-01-29.
  18. ^ King, Ian; Hytha, Michael (2023-08-21). "SoftBank's Arm Files for IPO That Is Set to Be 2023's Biggest". Bloomberg.com. Retrieved 2024-01-29.
  19. ^ "Mizuho Securities USA Expands Fixed Income Platform". HITC Business. Retrieved 21 May 2013.
  20. ^ "Natural gas retreats from one-month high as cold outlook fades". Futures. Retrieved 21 May 2013.
  21. ^ "Mizuho Securities USA named as first remote derivatives clearing member of SGX - the TRADE".
  22. ^ "Mizuho Bank USA - Company Profile and News". Bloomberg.com.
  23. ^ "Mizuho Trust & Banking Co USA - Company Profile and News". Bloomberg.com.
  24. ^ https://www.finaemagnates.com/executives/move/mizuho-securities-promotes-gerald-rizzieri-president-ceo/
  25. ^ "Most Powerful Women in Finance: No. 24, Mizuho Financial Group's Michal Katz". American Banker. September 23, 2019.
  26. ^ Turner, Matt. "A Japanese bank just made a big statement of intent on Wall Street". Business Insider.
  27. ^ "Japan's Mizuho Wants to Keep Growing in the U.S. Market". Institutional Investor. November 3, 2015.
  28. ^ "Mizuho to hire 200 RBS employees to build U.S. unit". Reuters. Retrieved 2024-02-08.
  29. ^ "Mizuho to Buy Capstone Partners to Bolster Sponsors Group". January 10, 2022 – via www.bloomberg.com.
  30. ^ Writer, Verdict Staff (January 18, 2023). "Mizuho hires 20 Credit Suisse traders to bolster US arm".
  31. ^ "Mizuho to buy investment bank Greenhill in $550 million takeover". The Japan Times. May 23, 2023.
  32. ^ "Mizuho stands up for diversity | IFR". IFRe.
  33. ^ "LPGA adds event at Liberty National in New Jersey in 2023". AP News. September 23, 2022.
  34. ^ "LPGA, Michelle Wie West Lure New Sponsor, Push Total Purse to $93.5M". Yahoo Sports. September 23, 2022.
  35. ^ Zeitlinger, Ron (2023-11-21). "LPGA event returning to Liberty National in 2024, with $3 million purse". NJ.com. Retrieved 2024-01-29.
  36. ^ Fazelpoor, Matthew (April 12, 2023). "Girls Inc. named Charitable Partner for upcoming Jersey City LPGA event".
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