Mizuho Financial Group, a Japanese banking holding company, is reportedly planning to hire around 200 staff from Royal Bank of Scotland (RBS) in the US.

The move to hire fixed-income and loan staff members follows the Japanese bank’s deal to buy RBS’s US and Canadian $36.5bn loan portfolio.

"They are getting rid of the bulk of their DCM bankers, as well as the leverage finance team and 99% of the syndicate desk," an undisclosed source told Reuters.

The new hires will include RBS’s head of debt capital markets Jennifer Powers, US head of bond syndicate Victor Forte and head of leverage finance Dick Smith, according to Reuters.

According to the report, Powers will co-head DCM with her Mizuho counterpart while Forte will assume the role of partner with Mizuho’s syndicate manager and Smith will head up leverage finance.