Mizuho Financial Group is looking to grow its investment banking operations in India, focusing on corporate and institutional clients. The Japanese bank has discussed acquiring a stake in Avendus Capital but those talks are currently on hold. Mizuho aims to become the leading investment bank in Asia within five years.

Deputy president Suneel Bakhshi, with 30 years of experience, is leading the charge to transform Mizuho into a global bank. Nearly 40% of the bank’s gross profit comes from its global corporate and investment banking division. Bakhshi emphasizes the importance of developing international talent to support Mizuho’s expansion goals.

To strengthen its international presence, Mizuho appointed Thomas Hartnett to head fixed income activities across multiple regions. Bakhshi stresses the need for non-Japanese staff to work outside their home country to drive Mizuho’s global growth strategy. The bank is focused on transitioning from a Japanese bank with international operations to a truly global entity.

Read more at Yahoo Finance: Mizuho seeks to expand investment banking business in India: report