Sumitomo Mitsui Banking Names Fukutome as New CEO

Tokyo, Dec. 15 (Jiji Press)--Japan's Sumitomo Mitsui Banking Corp. said Thursday that it will promote Senior Managing Executive Officer Akihiro Fukutome to president and CEO.

Fukutome, 59, will replace Makoto Takashima, 64, who will become chairman of the core unit of megabank group Sumitomo Mitsui Financial Group Inc. <8316>.

Incumbent Chairman Takeshi Kunibe, 68, will leave the post but stay on as chairman of the parent company.

The appointments will take effect April 1 next year.

The first changes in the bank's top posts in six years are aimed at keeping up with changes in business environments and accelerating its overseas expansion.

[Copyright The Jiji Press, Ltd.]