NEW YORK, NY--(Marketwire - April 1, 2010) - Mizuho Securities USA ("MSUSA"), the U.S. broker-dealer subsidiary of the global Mizuho Financial Group, today announced several changes in its executive management. James G. Wilders Reed, previously President and CEO of MSUSA, has been promoted to Chairman of MSUSA. He also has been appointed to serve as Managing Executive Officer and Head of Global Markets for MSUSA's parent company Mizuho Securities Co., Ltd. (Tokyo). Mr. Reed is the first non-Japanese to hold such a senior position with Mizuho Securities. John Koudounis has been promoted to serve as MSUSA's President and Chief Executive Officer, effective April 1, 2010. Patrick Fay has been named Executive Managing Director and will succeed Mr. Koudounis as Head of MSUSA's Fixed Income Division.
The client-driven strategic expansion of the MSUSA franchise, which began under Mr. Reed, has resulted in a succession of record profit gains in the last several years, and will continue to be a primary area of focus for the new leadership team. As Head of Fixed Income, Mr. Koudounis significantly developed MSUSA's sales, trading and origination capabilities in rates, credit and mortgages, adding senior personnel to strengthen existing businesses and building out the firm's product platform. Recent additions, including the launch of dedicated high-yield and emerging markets product platforms, will enhance the firm's growing position in US dollar issuance.
James G. Wilders Reed stated: "In my new role as Head of Global Markets for Mizuho Securities and Chairman of MSUSA, I look forward to working with the new leadership team to enhance the success of MSUSA's customer driven approach and strengthen the synergies with our international securities business. I am confident that John's established record of high-caliber strategy execution and profitable business growth will continue the exceptional growth and results that we have achieved over the past several years at MSUSA."
John Koudounis, MSUSA President and CEO, commented: "I hope to build on the strong foundation and record of success that Jim has recorded during his tenure. Our continued introduction of new product offerings is a vital strategic priority, because it underscores our commitment to providing clients with the most comprehensive array of funding, investment and hedging opportunities possible."
About Mizuho
Mizuho Securities USA Inc. is a U.S. registered broker-dealer headquartered in New York City, with offices in Atlanta, Boston, Chicago, Houston, Los Angeles, San Francisco and London (UK). MSUSA provides a wide range of fixed income and equity securities products and investment banking services to institutional clients MSUSA is one of only 18 firms designated as a Primary Dealer in U.S. Government and Agency securities. . MSUSA also is a U.S. registered futures commission merchant ("FCM") and a member of most international futures exchanges. MSUSA's parent company, Mizuho Securities Co., Ltd., is a top-tier, full-service, Japanese securities firm and a core member of the Mizuho Financial Group. http://www.mizuhosecurities.com
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