Japan-based Mizuho Financial Group has been licensed to commence its investment-banking service offerings in Saudi Arabia, reported Bloomberg.
The business is expected to be officially opened in Riyadh, by the Tokyo-based company’s Mizuho Corporate Bank unit and its affiliate Mizuho Securities, following the approval from the regulators in Saudi Arabia and Japan.
Reportedly, by starting the investment-banking operations in Saudi Arabia, Mizuho joins Nomura Holdings, Morgan Stanley and Goldman Sachs Group.
Mizuho Securities also plans to start branches in Seoul, Ho Chi Minh City, Taipei and Malaysia, in order to provide broking services for Japanese and Asian companies and to advise on mergers and acquisitions, reported the news agency.
