The hiring is aimed at helping the Japanese firm to buy a sizable part of Credit Suisse’s agency securitised-products trading operations, a spokesman told the publication.
The team is anticipated to join Mizuho this week. It comprises Serena Lin, Anthony Buffone, Vipul Jain and Lyndon Pereria, a person privy to the development added.
The Swiss bank refused to offer any comment on the matter. The traders were also tight-lipped about the matter.
Mizuho, under its CEO Masahiro Kihara, has been exploring options to enhance its footprint in the American capital markets.
Last year, Kihara revealed aggressive plans to appoint bankers to expand its activities with non-investment-grade firms.
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Credit Suisse is currently undergoing an expensive overhaul that involves 9,000 layoffs and selling large portions of its investment bank.
The bank’s image has also been tarnished by a series of scandals and losses.
Mizuho’s latest move also follows the announcement of a deal worth JPY80bn ($552m) for the purchase of a 19.99% stake in Rakuten Group’s securities subsidiary. The deal, which was reached with Mizuho’s securities arm, was aimed at helping the firm to compete with rivals in the digital brokerage sector.