TOKYO, Feb 21 Reuters Mizuho Financial Group aims to stay in the top 10 of the global investment bank league table, its investment banking chief told Reuters, after it became the first Japanese bank to enter the table39;s upper echelons in more than a decade.
Mizuho ranked 10th in LSEG39;s investment banking league table last year, benefiting from a lead underwriting role in chip designer Arm39;s initial public offering and the purchase of U.S. mergersandacquisitions MA advisory Greenhill.
The last time a Japanese bank appeared in the top 10 was in 2010, when Nomura Holdings placed ninth in a table where top spots are dominated by bulge bracket global banks such as Goldman Sachs and JPMorgan.
We believe we can keep our position in the top 10, Naoki Takahashi, head of Mizuho39;s global investment banking division, said in an interview. We want to challenge the dominance of bulgebracket banks.
Mizuho39;s investment banking fees, which include fees paid for debt and equity underwriting, MA advisory and syndicated loans, totalled 1.97 billion last year, up 16 from the previous year.
The acquisition of Greenhill, with its nearly 400 bankers, will help Mizuho expand in U.S. and European MA markets, the biggest portion of the global investment banking fee pool, Takahashi said, adding that the bank sees room for growth in those markets.
Mizuho39;s MA advisory business strategy contrasts with those of domestic rivals Mitsubishi UFJ Financial Group and Sumitomo Mitsui…