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Mizuho Securities USA hires former Deutsche Bank convertible trading desk head

Mizuho Securities USA LLC hired Rakesh Kadakia as a senior convertibles trader, a Mizuho spokesperson confirmed to S&P Global Market Intelligence.

Kadakia joined the company Sept. 26. He was previously head of Deutsche Bank AG's convertible trading desk.

Kadakia was registered with Deutsche Bank Securities Inc. from 2007 to 2018, according to the Financial Industry Regulatory Authority's BrokerCheck.

Deutsche Bank, which is implementing a restructuring plan, has seen an exodus of senior employees. Sources told S&P Global Market Intelligence that Celeste Guth, the bank's global head of mergers and acquisitions, was set to leave for PJT Partners Inc.