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Stock impact report

Japan bank SMFG to appoint CFO Ota as president in management reshuffle-sources [Reuters (UK)]

Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG) 
US:NYSE Investor Relations: smfg.co.jp/english/investor
Company Research Source: Reuters
Japan bank SMFG to appoint CFO Ota as president in management reshuffle-sources | Reuters 2 Min Read TOKYO, Dec 14 (Reuters) - Sumitomo Mitsui Financial Group (SMFG), Japan’s third-largest lender, plans to announce on Friday that Chief Financial Officer Jun Ota will become its president in April, taking over from Takeshi Kunibe, sources said. Kunibe, who is also CEO, will become chairman, said the sources who were not authorised to discuss the matter publicly. The changes were widely expected in banking circles in Japan. SMFG officials were not immediately available for comment. The bank is slated to hold a news briefing in Tokyo on Friday afternoon to announce the management changes, said the sources. Initially as president of its core unit and as chief of SMFG since last year, Kunibe has been steering the company’s transformation from a traditional commercial bank to a financial conglomerate including investment banking and asset management businesses. He will replace Koichi Miyata Show less Read more
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