Just months after being abruptly shown the door at Morgan Stanley in a move that left Wall Street whispering, one of its most popular trading heads is staging a spectacular comeback at a major rival.
Sources close to the matter have revealed that Nick Brice, the bank's former head of North American leveraged finance trading, is set to join Japanese banking giant Mizuho. The move marks a dramatic and rapid return to the financial forefront for the high-profile executive, whose sudden dismissal in March 2025 sent shockwaves through the industry.
Brice, known affectionately by many colleagues as "Nice," was a well-regarded figure at Morgan Stanley, where he had been a high-yield trader since 2017. His unexpected termination was shrouded in mystery, with the bank offering no public explanation. The lack of clarity led many to speculate whether the undisclosed circumstances would tarnish his career prospects. It appears those concerns were unfounded.
A Strategic Poach
After what seems to have been a brief summer hiatus to recharge, Brice is now poised to take on a new senior role at Mizuho. His arrival is anticipated shortly after the Labor Day holiday, marking a significant talent coup for the firm as it continues to expand its US presence.
It is understood that Tom Hartnett, Mizuho's influential head of US fixed income, personally orchestrated the hire. This suggests a strategic decision to capitalize on the availability of a top-tier trader, signaling the firm's aggressive push to bolster its fixed-income desks with established Wall Street veterans.
While Mizuho has officially declined to comment on the impending appointment, Brice's move does little to solve the puzzle of his departure from Morgan Stanley. The American banking behemoth has remained tight-lipped, but Mizuho's swift recruitment indicates that whatever transpired was not deemed a barrier to his future on the Street. For Mizuho, it's a clear case of one competitor's loss becoming their strategic gain.
As Nick "Nice" Brice prepares to swap the Morgan Stanley logo for Mizuho's, the financial world will be watching closely. His story is rapidly shifting from one of mysterious dismissal to one of powerful resilience, proving that on Wall Street, a major setback can quickly become the prelude to an even bigger comeback.
