(Bloomberg) — Mizuho Americas has added 20 Credit Suisse Group AG traders as part of the Japanese firm’s push to expand its U.S. market business.
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The move is part of Mizuho’s acquisition of a large portion of Credit Suisse’s retail business, a spokesman confirmed. The team is expected to start Mizuho this week.
The employees include Serena Lin, Anthony Buffone, Vipul Jain and Lyndon Pereria, according to a person familiar with the matter. Credit Suisse declined to comment on the departure, and none of the traders immediately responded to requests for comment.
Under CEO Masahiro Kihara, Mizuho Financial Group Inc. to expand to major US markets. Last year, Kihara vowed his company would hire banks to build its businesses and non-investment companies.
Credit Suisse, for its part, is in the midst of a cost restructuring that includes cutting 9,000 jobs and divesting large parts of its investment bank. The Swiss financier has suffered years of scandals and losses.
–With help from Paige Smith.
(Update with dealer names in third paragraph.)
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