The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) announced May 15 that there have been changes to the leadership of BTMU U.S. Holdings, which includes the U.S. operations of BTMU Headquarters for the Americas and Union Bank, N.A.
BTMU Chief Executive Officer for the Americas Masaaki Tanaka, who has led BTMU U.S. Holdings since July 2011, will be promoted to representative director and deputy president of Mitsubishi UFJ Financial Group, Inc. (MUFG), and will return to Tokyo to assume this strategic role, effective June 28, subject to MUFG shareholders’ approval.
He will report to Katsunori Nagayasu, president and CEO of MUFG.
Union Bank President and CEO Masashi Oka has assumed the position of BTMU chief executive officer for the Americas, in addition to his current role as CEO of San Francisco-based Union Bank, effective May 15. Oka has been co-chief operating officer for the Americas, reporting to Tanaka, and has been deeply involved in the strategic direction of BTMU U.S. Holdings.
Oka reports to Takashi Morimura, deputy president and chief executive of BTMU’s Global Business Unit and chairman of UnionBanCal Corporation.
Union Bank remains a wholly owned subsidiary of BTMU and will maintain its status as a national bank.
In a separate action, Katsumi Hatao has been appointed as deputy chief executive officer for the Americas and head of BTMU’s New York-based Headquarters for the Americas, effective May 15. Hatao reports to Oka.
“I’m proud to have served as BTMU’s first chief executive officer for the Americas. It has been an honor and a pleasure to work with a great team of people who share BTMU’s vision to become a top-ten banking group in the U.S.,” said Tanaka. “During my tenure, we enhanced collaboration between BTMU New York and Union Bank, and the result has been a more nimble and flexible organization, better prepared to leverage growth opportunities. My successor, Masashi Oka, is a very qualified and capable leader who will pursue BTMU’s growth plans.”
“Through Masa Tanaka’s leadership, we have strengthened the governance structure of BTMU’s U.S. operations to take maximum advantage of the strength of these two excellent organizations to find new and very advantageous growth opportunities,” said Oka. “We are now better positioned to respond to a business landscape constantly reshaped by regulatory and competitive forces. I’m honored to assume the role during this time of change and opportunity.”
BTMU is Japan’s premier bank, with a global network spanning more than 40 countries. It offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide. In the Americas, BTMU has offices throughout the U.S., Canada, and Central and South America serving mainly corporate clients.
BTMU’s parent, MUFG, is one of the world’s leading financial groups, with total assets of more than 210 trillion yen (approximately $2.70 trillion) as of Dec. 31, 2011. MUFG’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
The group’s operating companies include BTMU, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings, one of Japan’s largest securities firms. MUFG’s shares trade on the Tokyo, Osaka, Nagoya, and New York stock exchanges.
UnionBanCal Corporation is a financial holding company with assets of $92.3 billion at March 31, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operates 407 branches in California, Washington, Oregon, Texas, New York and Illinois as well as two international offices.
Visit www.unionbank.com for more information.