Mizuho shuts Singapore prime brokerage unit

Reuters, 7 Apr 2011(Reuters) - Japan's Mizuho Securities has shut its prime broking business in Singapore after big investments in staff and high-speed trading technology failed to attract hedge fund clients, five sources with knowledge of the matter said.The brokerage unit of Mizuho Financial Group , Japan's second-largest bank, has fired the bulk of its roughly 30-person operation in Singapore,