Mizuho Securities USA (MSUSA), the US broker-dealer subsidiary of the global Mizuho Financial Group, has made several changes in its executive management.

James Wilders Reed, previously president and CEO of MSUSA, has been promoted to chairman of MSUSA. He also has been appointed to serve as managing executive officer and head of global markets for MSUSA’s parent company Mizuho Securities (Tokyo).

John Koudounis has been promoted to serve as MSUSA’s president and CEO, effective April 1, 2010. Patrick Fay has been named executive managing director and will succeed Mr Koudounis as head of MSUSA’s fixed income division.

The client-driven strategic expansion of the MSUSA franchise, which began under Mr Reed, will continue to be a primary area of focus for the new leadership team.

As head of fixed income, Mr Koudounis developed MSUSA’s sales, trading and origination capabilities in rates, credit and mortgages, adding senior personnel to strengthen existing businesses and building out the firm’s product platform. Recent additions, including the launch of dedicated high-yield and emerging markets product platforms, will enhance the firm’s growing position in US dollar issuance.

Mr Reed said: “In my new role as head of global markets for Mizuho Securities and chairman of MSUSA, I look forward to working with the new leadership team to enhance the success of MSUSA’s customer driven approach and strengthen the synergies with our international securities business. I am confident that Mr Koudounis’ established record of high-caliber strategy execution and profitable business growth will continue the exceptional growth and results that we have achieved over the past several years at MSUSA.”

Mr Koudounis said: “I hope to build on the strong foundation and record of success that Mr Reed has recorded during his tenure. Our continued introduction of new product offerings is a vital strategic priority, because it underscores our commitment to providing clients with the most comprehensive array of funding, investment and hedging opportunities possible.”