Mizuho Financial Group is hiring former Ontario Teachers’ Pension Plan (OTPP) executive Karen Frank as a senior adviser for its Europe, the Middle East and Africa business, according to people familiar with the matter.
Frank will help the Japanese bank develop their EMEA strategy after the acquisition of Greenhill & Co. and integrate the mergers and acquisitions advisory firm’s resources in the region, said one of the people. Her appointment will likely be announced in the coming days, the people said, asking not to be identified discussing confidential information.
Frank and a representative for Mizuho declined to comment.
Frank was executive managing director and global head of equities at OTPP until December 2022. Prior to that, she was chief executive officer of Barclays’ private banking business. Starting her career in private equity in 1992, she currently serves as a nonexecutive director at market maker Flow Traders, according to her LinkedIn profile. She became the chair of British Heart Foundation’s board of trustees in June.
Mizuho has been recruiting dealmakers from competitors for its leverage finance business and hiring more in industry verticals including financial institutions, health care and infrastructure, following the Greenhill acquisition that was completed last year, Michal Katz, head of corporate and investing banking in the Americas, said in an interview last month.
The Japanese lender is also among investment banks angling to capture a surge in fees as more deals come to the market. There has been a pickup in dealmaking driven by private equity firms in Europe, where major players like CVC Capital Partners and EQT were among those that clinched multiple deals last month.
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