Mizuho brought in a Deutsche Bank saleswoman and made her an MD
What would you do to become a managing director (MD) in an investment bank? Most people would wait a long time to achieve it. It can take decades, after all. Some people, however, find a quicker way to do it: moving to a slightly smaller bank when you’re a director already.
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Veronica Ames joined Mizuho yesterday in New York as an MD. She joined the firm from Deutsche Bank, where she spent 11 years in its risk management solutions team. The risk management solutions team, despite its name, is not a traditional risk management function. It is a sales team that sells currency and commodities hedges, among others. Ames sold rates hedges.
Ames has had a wealth of experiences. She interned with Goldman Sachs’ private bankers and Barclays’ traders in the same year, before joining BMO Capital Markets’ derivatives sales team after graduation. Perhaps at Mizuho she will be in M&A, but probably not. Mizuho did not respond to a request to comment. In all likelihood, Ames will join Mizuho’s derivatives risk solutions team, which is analogous to what her team at Deutsche Bank did.
Deutsche Bank is certainly a bigger investment bank than Mizuho, but the move was probably a rather easy sell. A managing director role is highly coveted in finance, and Mizuho is a perfectly respectable place to achieve it. The downside? The firm also has “senior managing directors”, like many boutique banks such as Evercore do. Another rung to climb.
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