Japan’s Mizuho Corporate Bank and Mizuho Securities introduced a “dual-hat” structure at the front offices of each company, in order to ease the firewall regulations between banking and securities’ businesses under an amendment to the Financial Instruments and Exchange Act, effective June 1, 2009.
The bank claims that the two corporate banking divisions within the corporate banking unit of Mizuho Corporate Bank and two newly-established corporate coverage departments within the investment banking group of Mizuho Securities will form the ‘dual-hat’ sections. It says that a total of around 50 employees from Mizuho Corporate Bank and Mizuho Securities will be ‘dual-hat’ employees and these two sections will be located at Mizuho Corporate Bank’s head office.
Through this structure, the group expects to intensify the cooperation between their companies and aims to provide its corporate customers the banking and securities’ solutions as well as financial services as per their needs.
