Yahoo Finance Mizuho Hiring Bankers for US Expansion After Greenhill Takeover
(Bloomberg) -- Mizuho Financial Group Inc. is hiring more bankers to capitalize on its recent acquisition of Greenhill & Co. and take advantage of a gradual rebound in mergers and acquisitions.
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The Tokyo-headquartered bank has recruited dealmakers from bulge-bracket competitors for its leverage finance business, and it’s hiring more in industry verticals including financial institutions, health care and infrastructure, Michal Katz, head of corporate and investment banking in the Americas, said in an interview with Bloomberg TV.
“We’ve absolutely been seeing rebound across M&A, private equity LBOs, as well as some dribbling into the IPO markets,” Katz said. Still, “activity in 2024 has not panned out as expected,” with most of it highly concentrated in mega-deals, particularly in energy, technology and financials, she said.
Mizuho is among investment banks angling to capture a surge in fees when more deals come to the market — potentially driven by Federal Reserve interest rate cuts in the year ahead. For now, higher-for-longer rates that have kept the cost of financing deals expensive.
There are still opportunities for large companies to make transactions, Katz said, even as private equity firms wait to deploy capital. The advent of artificial intelligence and the need to improve infrastructure technology and transportation will help drive long-term investments, she said.
Mizuho completed the acquisition of Greenhill in December and continues to operate it as a distinct brand. The Japanese bank’s specialties including power, energy and technology have been complemented by Greenhill’s focus on health care, industrials and consumer sectors, Katz said. The merger has also bolstered fundraising business.
“Putting it all together, at least at first blush, has been incredibly interesting — and then six months in, as we’re working together, we’re already beginning to see the fruits of those assumptions and expectations,” she said.
Katz added that there’s also been a pivot by investors to Japan, after a rebound in the country’s stock market. Interest from companies and private equity firms has grown as the government and regulators have opened up to more foreign investment, she said.
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