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Three years after the merger that created Mizuho Financial Group, its London investment-banking arm is emerging as a solid and dynamic player. With the creation of Japan’s largest financial group from the merger of Fuji Bank, Dai-Ichi Kangyo and the Industrial Bank of Japan in December 2000, one of the most fruitful synergies to be developed has been in the London-based securities and investment banking business. The complex task of integrating the extensive operations of all three banks into an efficient and profitable new company was entrusted to Chief Executive and Managing Director Nobuo Oya. In the past three years, he and his staff have been successful in establishing Mizuho International as an increasingly influential part of Mizuho Financial Group. Indeed, the new company has announced record profit growth and increased deals while much of the industry suffered. In the year to March 2003, profit after tax stood at $132 million, an outstanding figure among Japanese securities houses.
The level of business has followed. Despite a generalised bear economy, Mizuho is providing a high level of service for its large Japanese customer base, and is increasingly active with international clients. Today, Mizuho International is as familiar in the London skyline as St. Paul’s or the Houses of Parliament.
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Nobuo Oya, chief executive and managing director of Mizuho International 