Mitsubishi UFJ Announces Hanzawa as Next President

Tokyo, Dec. 16 (Jiji Press)--Mitsubishi UFJ Financial Group Inc. announced Tuesday that Junichi Hanzawa, currently president of MUFG Bank, will succeed Hironori Kamezawa as president of the group next spring.

The appointment will take effect on April 1, marking the first leadership change at the group in six years and at the banking unit in five years. The group aims to achieve further growth by renewing its leadership.

"We will continue to take on challenges to build a strong financial services group that opens up the future," Hanzawa, 60, said at a press conference on Tuesday.

Masakazu Osawa, 57, senior managing executive officer at MUFG Bank, will become the bank's next president, while Kamezawa, 64, will step aside to become the group's chairman.

Hiroyuki Seki, 57, deputy president of the bank, will be appointed as president of Mitsubishi UFJ Securities Holdings Co. and Mitsubishi UFJ Morgan Stanley Securities Co.

[Copyright The Jiji Press, Ltd.]