Mizuho Is Said to Hire New Automotive Banking Head From RBC

(Bloomberg) -- Mizuho Securities USA, a New York-based unit of the Japanese financial institution, has hired a senior banker to expand its coverage of automotive deals, according to people familiar with the matter.

Mizuho is bringing in Andrew Karnovsky, a director at RBC Capital Markets, to be the bank’s new head of autos in North America, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Karnovsky, who will be based in New York, is joining as a managing director, the people said.

Representatives for Mizuho, a unit of Tokyo-based Mizuho Financial Group Inc., and RBC declined to comment. Karnovsky didn’t respond to LinkedIn messages seeking comment.

Mizuho has been looking to build out its North American investment banking operation. Last year it hired Keith Wargo, who had been the global co-head of Deutsche Bank AG’s consumer, retail and services group. Wargo, as a Mizuho managing director and co-head of banking coverage, oversees the bank’s relationships in the consumer, health care, real estate and financial sectors and with private equity clients, according to a statement in December.

Karnovsky, who will report to Wargo, joined RBC in 2014, according to his LinkedIn profile. Before that, he spent a decade at Jefferies Group LLC working primarily with industrial companies, according to the profile.

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