Business May 1, 2021
Mizuho Securities USA underpaid nonwhite employees based in part on performance reviews "replete with thinly disguised racial stereotyping,” a lawsuit filed by four former executives said.
Business / Corporate Apr 23, 2021
Retailer Rakuten beats Japanese lenders at digital banking game
by Taiga Uranaka
New digital bank accounts with the internet conglomerate better known for its online shopping services expanded by 20% last year, and recently topped 10 million.
Business Apr 14, 2021
Chinese students pay agents $12,000 for inside track to Wall Street
The practice has a growing number of detractors, who are questioning whether it’s fair or good for the industry to give another leg up to the well-heeled.
Business / Corporate Apr 6, 2021
MUFG Bank to rebuild headquarters in Tokyo, consolidating group functions
President and CEO Junichi Hanzawa said the banking group hopes to enhance its comprehensive strength by bringing leadership together in one building.
Business / Corporate Apr 6, 2021
Mizuho says Hitachi hardware behind March banking system failure
The spate of glitches between Feb. 28 and March 12 has undermined confidence in Mizuho Bank, one of the country's three megabanks.
Business Apr 1, 2021
Mizuho's reported losses are far smaller than those incurred by some institutions, with Nomura warning of up to $2 billion in exposure.
Business / Corporate Mar 27, 2021
Mizuho Bank will acknowledge flaws in its system management in a report over a series of glitches that the Japanese lender will soon submit to regulators, informed sources said Friday. The report will say that Mizuho failed to fully recognize the impact of glitches that ...
Business / Corporate Mar 23, 2021
Morgan Stanley doubles down in Japan to back MUFG’s wealth push
The New York-based lender has dispatched Darren Spencer, former chief operating officer of Morgan Stanley Private Wealth Management, to Tokyo to train staff.
Business / Corporate Mar 20, 2021
March 11 glitch at Mizuho affected remittances of ¥50 billion
The glitch occurred late at night, disrupting remittances of foreign currency-denominated funds to accounts at other banks in Japan.
Business Mar 19, 2021
The news comes after the Japanese Banks' Payment Clearing Network said it will lower interbank money transfer fees to ¥62 per transaction, effective from Oct. 1.
Business / Corporate Mar 18, 2021
Mizuho scraps plan to replace banking arm head after system failures
Koji Fujiwara, president of Mizuho Bank, will stay on for the time being as the Japanese megabank works to get to the bottom of the issue.
Business / Corporate Mar 13, 2021
Mizuho hit by fourth glitch in two weeks as pressure mounts on management
The latest glitch affected foreign currency-denominated remittances for corporate customers in the country.