Sumitomo Mitsui taps deputy head as CEO after predecessor’s death

Economy

Sumitomo Mitsui Financial Group Inc. said Thursday that Deputy President Toru Nakashima will be promoted to president and CEO after his predecessor Jun Ota died last week.

The appointment of Nakashima, 60, will take effect on Friday, the company said. Ota died of pancreatic cancer on Saturday.

Nakashima will be tasked with improving efficiency and propelling operational reforms at one of Japan’s largest financial groups, which has a wide range of businesses including leasing operations and a securities brokerage.

A graduate of the University of Tokyo, Nakashima joined Sumitomo Bank, a forerunn...

Kyodo News

Kyodo News