It’s a new week, and the dust is settling on the revelation that Mizuho wants to 150 investment bankers in Europe.

The story originated with Bloomberg last Tuesday, following an interview with Mizhuho president Keisuke Yokoo.

However, according to one person with knowledge of the matter, Bloomberg over-egged Mizuho’s plans.

“Nothing serious will happen in the next 6 months,” she says. “Their statement was one of intention and long term strategy rather than an immediate right-now push to increase headcount in Europe.”

A spokesperson for Mizuho confirms this. “The Bloomberg story was a bit of an exaggeration. We are currently in the business planning process and are conducting a strategic review of our business areas. We have an aspiration to expand, but can’t give concrete numbers.”

Mizuho's merger with Shinko Securities was finalised only this month. The strategic review is being undertaken to set the focus for the combined organisation.

A headhunter who works with Mizuho says they're hiring, but are nowhere near knowing what they’re doing yet.

Mizuho’s reticience is likely to be disappointing to both recruiters and candidates, who have been targeting the Japanese bank. “We’ve had quite a lot of CVs, but there’s no line outside the door,” says the spokesperson.