Ota Named Next Sumitomo Mitsui Financial President

Economy Society

Tokyo, Dec. 14 (Jiji Press)--Sumitomo Mitsui Financial Group Inc. <8316> said Friday that it will promote Deputy President Jun Ota to president.

President Takeshi Kunibe will become chairman without the right to represent the company. Chairman Koichi Miyata, who doubles as chairman of Sumitomo Mitsui Banking Corp., will focus on the bank's post.

All appointments will take effect on April 1, 2019.

Ota, 60, joined Sumitomo Bank, the predecessor of Sumitomo Mitsui Banking, in 1982. He has been the group's deputy president since April last year. Well-versed in investment banking operations, he also serves as chief financial officer.

Kunibe, 64, became Sumitomo Mitsui Banking president in April 2011 before becoming president of the holding company in April 2017. He strengthened overseas and credit card businesses.

[Copyright The Jiji Press, Ltd.]

Jiji Press