Japan’s Mizuho Bank will hire some 200 Royal Bank of Scotland employees following its agreement to buy RBS’s U.S. and Canadian $36.5 billion (£25 billion) loan portfolio. However, the two banks have not confirmed such a development. As per the agreement to buy the loan portfolio, Mizuho had the option to acquire personnel. Mizuho expects to bolster its fixed-income department with key appointments. Among the new hires are RBS’s heads of debt capital markets debt syndicate and leverage finance. Two top bankers, loan personnel, and a small derivatives team are also going to Mizuho. RBS will still have a capital markets business, but it will be significantly reduced.
