Mizuho Financial Group Inc. has hired Karen Frank, a former Ontario Teachers’ Pension Plan executive, as a senior adviser to its Europe, Middle East and Africa business, according to a person familiar with the matter.
Frank will help shape the Japanese bank’s EMEA strategy following its acquisition of Greenhill & Co. and consolidate the M&A advisory firm’s resources in the region, said one of the people, who asked not to be identified because the information is confidential. His appointment is expected to be announced soon.
Representatives for Frank and Mizuho declined to comment.
Frank was executive director and global head of equities at OTPP until December 2022. Prior to that, he was chief executive officer of Barclays’ private banking business. He began his career in private equity in 1992, according to his LinkedIn profile, and currently serves as a non-executive director at market maker Flow Traders. He became chair of the British Heart Foundation’s board of trustees in June.
Mizuho is hiring dealmakers from rivals for its leveraged-finance business following its acquisition of Greenhill, which closed last year, and is ramping up hiring in industries such as financial institutions, health care and infrastructure, Michal Katz, head of corporate and investment banking for the Americas, said in an interview last month.
The Japanese lender is among the investment banks hoping to boost fees as more deals hit the market.Dealings led by private equity firms have been on the rise in Europe, with big names such as CVC Capital Partners and EQT closing several deals last month.