NEW YORK--(BUSINESS WIRE)--Mitsubishi UFJ Financial Group, Inc. (MUFG) today announced that veteran banker Kanetsugu (“Sugu”) Mike has been appointed to the newly created position of Regional Executive for the Americas. Mr. Mike will have oversight of MUFG’s businesses in the United States, Latin America and Canada. His appointment is effective today, and he is based in New York.
“Our clients want a bank with global capabilities to provide service for them anywhere in the world. Success in the United States, Canada and Latin America is essential to our strategy,” said Nobuyuki Hirano, President of MUFG. “Kanetsugu knows MUFG’s global strategy well, having occupied a number of strategic roles around the globe, including the Americas. He is extremely qualified to lead this important business as MUFG pursues profitable, sustainable growth throughout the Americas.”
In a related move, MUFG recently announced the appointment of former UBS executive Stephen E. Cummings as the first American President and CEO of MUFG Union Bank, N.A., the banking subsidiary of MUFG Americas Holdings Corporation. Mr. Cummings’ appointment is further evidence of MUFG’s commitment to expansion in the Americas. “While Steve will report to Kanetsugu, I know they will form a strong partnership to grow our Americas businesses and they will work as one team to serve our clients from Montreal to Buenos Aires,” said Mr. Hirano.
Mr. Mike was most recently Senior Managing Executive Officer and Deputy Chief Executive of the Global Business Unit of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a wholly-owned commercial banking subsidiary of MUFG since 2013. Mr. Mike will retain his position as Deputy Chief Executive of the Global Business Unit of BTMU. He also served as Vice Chairman of Bangkok-based Bank of Ayudhya, also known as Krungsri, a subsidiary of BTMU.
Mr. Mike began his career at the Mitsubishi Bank, Ltd. in 1979 and gained notable global experience over the years, including overseas assignments. From 1987 to 1994, he was with the bank’s London branch, where he was involved in the international finance business. He then transferred to the New York office, where he served as Deputy General Manager of the New York Branch between 2000 and 2003, and subsequently as General Manager of the Planning Office for the Americas.
Mr. Mike then returned to Tokyo, where he held several prominent roles in the organization, before assuming his current position as Vice Chairman and board member of Krungsri in January 2014. Apart from responsibilities as a member of the board, he played a key role in ensuring a smooth and successful integration between Krungsri and BTMU. Mr. Mike earned a bachelor’s degree from the Keio University Faculty of Economics and an MBA from the University of Pennsylvania’s Wharton School.
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
MUFG (Mitsubishi UFJ Financial Group, Inc.) is one of the world’s leading financial groups, with total assets of approximately ¥279 trillion (JPY) or $2.3 trillion (USD)1, as of December 31, 2014. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with 1,100 offices in over 40 countries. The Group has over 140,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. Through close partnerships among our operating companies, the Group aims to “be the world’s most trusted financial group”, flexibly responding to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges.
MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company and bank holding company with assets of $113.7 billion at March 31, 2015. Its principal subsidiary, MUFG Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of March 31, 2015, MUFG Union Bank, N.A. operated 393 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as two international offices. MUFG Americas Holdings Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd. which is a
wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., one of the world’s largest and most diversified financial groups. Visit www.unionbank.com for more information.
1 Exchange rate of USD = ¥119.78 (J-GAAP) as of December 31, 2014