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Merrill Lynch to Participate in Mizuho Advisory
TOKYO and NEW YORK, May 14, 2003 — Merrill Lynch (NYSE: MER) today announced that it has agreed in principle to participate as a minority shareholder in Mizuho Advisory, Inc., which will be established as a consolidated subsidiary of Mizuho Financial Group. This investment is being made in conjunction with the launch of the "Corporate Revitalization Project" announced by Mizuho today.
The subsidiary will seek to accelerate the revitalization process for Mizuho's corporate customers. The initiative again underscores Merrill Lynch's commitment to the Japanese markets and Merrill Lynch's Japanese clients.
"We recognize this as an important initiative for Mizuho with its comprehensiveness, large scale and unique structure. We are pleased to have the opportunity to contribute to the success of such initiative by providing our strong global expertise in corporate turnarounds as well as our experience in the Japanese market," said Arshad Zakaria, executive vice president of Merrill Lynch & Co., Inc. and president of the Global Markets and Investment Banking group.
Merrill Lynch is one of the world's leading financial management and advisory companies, with office in 36 countries and private client assets of approximately $1.1 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of world's largest managers of financial assets, with assets under management of $442 billion. For more information on Merrill Lynch, please visit www.ml.com.
Contact Tokyo:
Hideki Sakuma 813.3213.7550
Hideki_Sakuma@exchange.japan.ml.com
Takayuki Inoue 813.3213.7550
Takayuki_Inoue@exchange.japan.ml.com
Contact New York:
Jessica Oppenheim 212.449.2107
Jessica_Oppenheim@ml.com
