Deutsche Bank's ex-head of U.S. convertible trading just arrived at Mizuho

Another day, another ex-Deutsche Bank trader got a new job. 

Rakesh Kadakia, the former DB head of convertible trading in New York, has arrived at Mizuho Securities as an MD in U.S. convertible trading.  

Kadakia's FINRA registration shows him joining Mizuho on 27 September after leaving Deutsche Bank on 21 December 2018. He spent nearly 12 years with the German bank and managed a team of seven traders and three analysts at Deutsche's convertible peak. This was later reduced to three traders and only one analyst, according to Kadakia's LinkedIn profile.

Mizuho appears to be building out its U.S. markets business. In August, it hired Bob Wright as head of execution services and U.S. equities trading. Wright was previously head of U.S. equities trading at Bank of America, a role he left immediately before joining. 

While Kadakia has gone from Deutsche to Mizuho, in London the flow has been in the opposite the direction. Campbell Gilbert, the former head of EMEA rates at Mizuho, recently returned to Deutsche Bank, where he ran the rates desk for many years before joining the Japanese bank in 2015.

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Photo by Kipras Štreimikis on Unsplash