UPDATE 2-Japan's SMFG names finance chief Ota as bank's new CEO [Reuters (UK)]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: Reuters
Japan's SMFG names finance chief Ota as bank's new CEO | Reuters 3 Min Read TOKYO (Reuters) - Sumitomo Mitsui Financial Group Inc (SMFG) on Friday named finance head Jun Ota as chief executive, at a time when Japan’s third-largest bank draws growing attention for possible merger-and-acquisition activity given a buildup of cash. Ota, 60, has widely been seen as successor to CEO Takeshi Kunibe, who will become chairman. The change will take place in April, SMFG said in a statement on Friday. The smallest of Japan’s three mega banks with 207 trillion yen ($1.82 trillion) in assets, SMFG is the most profitable as measured by return on equity, due in part to an emphasis on higher-margin borrowers such as small and mid-sized businesses. Initially as president of SMFG’s core unit and as overall chief since last year, Kunibe steered SMFG’s transformation from a traditional commercial bank to a financial conglomerate with investment banking and asset management businesses. He will replace Koic
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SMFG
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website