Mitsubishi UFJ Names Mike as New CEO

Economy Society

Tokyo, Dec. 26 (Jiji Press)--Kanetsugu Mike, president and chief executive officer of MUFG Bank, will double as president and group CEO of its parent, Mitsubishi UFJ Financial Group Inc. <8306>, the Japanese banking group said Wednesday.

The appointment will come into force on April 1 next year, marking the first change of chief for Mitsubishi UFJ in six years.

Mike, 62, will lead efforts to manage the group's operations, including trust banking and brokerage businesses, in an integrated manner.

He told a press conference that he will accelerate reform while serving as CEO at both the group and the banking unit.

Incumbent Mitsubishi UFJ President and Group CEO Nobuyuki Hirano, 67, will assume the post of chairman without the right to represent the company.

[Copyright The Jiji Press, Ltd.]

Jiji Press