Mizuho Securities M&A team to be based in Singapore

Investment banker to open advisory business to leverage M&A boom in Asia.

The investment banking unit of Japan’s Mizuho Financial Group Inc. will establish an M&A advisory team in Singapore to benefit from rising M&A activity in Southeast Asia. Mizuho said setting up shop in Singapore will allow them to cover the ASEAN markets.

Singapore's M&A team will begin with a number of bankers. No decision has been made on whether the Singapore unit will do underwriting and other investment banking businesses in the future. The company's Singapore operations have so far been limited to futures trading.

The group received approval from Singapore regulators to start an M&A advisory business late last year. Mizuho Securities' Hong Kong unit covers the group's Asia investment banking business outside Japan.

Japanese banks have enjoyed strong loan growth in Asia since European lenders began to retreat from the region because of the Eurozone debt crisis. As of September 2012, Mizuho's outstanding loans in Asia outside Japan rose 23% from year-on-year to US$65.6 billion.

Japanese banks have grown by offering a wider array of services to Asian clients such as equity and bond underwriting and advisory roles in M&As.