Mizuho Taps Former ABN/RBS DCM Banker

Former RBS head of DCM Carlos Vargas has been appointed head of EM in the fixed income division at Mizuho Securities USA. LatAm specialist Vargas left RBS last June following deteriorating institutional backing for the regional DCM and syndicated loans business amid global troubles at the Scottish bank. He was previously MD at ABN AMRO, and associate director at Bear Stearns before that. People familiar with the Japanese bank say Mizuho is looking to construct an EM fixed income franchise anchored in LatAm.