Mizuho Financial Group is hiring Karen Frank, former director of Ontario Teachers’ Pension Plan (OTPP), as a senior advisor for its Europe, Middle East and Africa division, according to sources familiar with the matter.
Frank will help the Japanese bank develop its EMEA strategy following the acquisition of Greenhill & Co. and integrate the M&A advisory firm’s resources in the region, one of the people said. Her appointment is likely to be announced in the coming days, the people said, asking not to be named to discuss confidential information.
Frank and a Mizuho spokesperson declined to comment.
Frank was executive managing director and global head of equity at OTPP until December 2022. Before that, she was chief executive officer of Barclays’ private banking business. She began her career in private equity in 1992 and is currently a non-executive director at market maker Flow Traders, according to her LinkedIn profile. In June, she became chair of the board of trustees of the British Heart Foundation.
Mizuho has recruited dealmakers from rivals for its leverage finance business and hired more people in verticals such as financial institutions, healthcare and infrastructure, following the acquisition of Greenhill that closed last year, Michal Katz, head of corporate and investment banking in the Americas, said in an interview last month.
The Japanese lender is also among investment banks eyeing a rise in costs as more deals come to market. There has been a surge in dealmaking, led by private equity firms in Europe, where major players such as CVC Capital Partners and EQT were among those to secure multiple deals last month.
