Mizuho International has hired a former managing director from Credit Suisse's sales and trading division as its head of fixed income, leading a business that has proved problematic for many investment banks in recent months.

The firm, which is the London-based securities and investment banking division of Japan's Mizuho Financial Group, has hired Zahra Peerbhoy, it said in a statement. She joins the bank after a 24-year career with Credit Suisse, where she was most recently a managing director in the global markets unit.