MUFG Bank CEO Mike to Double as Parent CEO

Economy Society

Tokyo, Dec. 25 (Jiji Press)--Mitsubishi UFJ Financial Group Inc. <8306> plans to have Kanetsugu Mike, 62, president and chief executive officer of its unit MUFG Bank, double as its president and group CEO, informed sources said Tuesday.

The move is designed to help manage the Japanese banking group, which also includes trust banking and securities arms, in a unified manner.

Incumbent Mitsubishi UFJ President and Group CEO Nobuyuki Hirano, 67, is set to take the post of chairman, the sources said.

The appointments are slated to take effect on April 1 next year, the sources said.

Mitsubishi UFJ's board is expected to make an official decision on the appointments as early as Wednesday.

[Copyright The Jiji Press, Ltd.]

Jiji Press