MUFG Union Bank Names New Executive Chair
NEW YORK — MUFG, one of the world’s leading financial groups, announced Sept. 25 that, effective Oct. 23, Regional Executive for the Americas Kanetsugu (“Sugu”) Mike will serve as executive chairman of the Board of Directors for MUFG Americas Holdings Corp. and its U.S. banking subsidiary, MUFG Union Bank, N.A.
Kanetsugu Mike
Mike will continue in his role as regional executive, with oversight of MUFG’s businesses in the U.S., Latin America and Canada. Current Executive Chairman Masashi Oka will be special advisor to BTMU President Nobuyuki Hirano.
Prior to becoming regional executive on May 1, Mike was senior managing executive officer and deputy chief executive of the Global Business Unit of The Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU), positions he retains. He also served as vice chairman of the Board of Directors of Bangkok-based Bank of Ayudhya, also known as Krungsri, a subsidiary of BTMU.
Oka began his banking career in 1979 with The Mitsubishi Bank, Ltd. Since then, he has led a distinguished career with the MUFG family of companies in Tokyo, San Francisco, Los Angeles, and New York. Prior to becoming executive chairman, he served as president and CEO of Union Bank and UnionBanCal Corporation from July 2010 through June 2014.
Masashi Oka
He was also senior managing executive officer and CEO for the Americas for BTMU from May 2012 through June 2014, responsible for BTMU’s businesses throughout the Americas, including Canada and Latin America. His U.S. assignments spanned four decades, during which he served as Union Bank’s first chief risk officer and, as CEO for the Americas, presided over the integration of all BTMU businesses in the U.S.
Oka has been deeply involved with prominent industry and community organizations, serving on the boards of The Financial Services Roundtable, The Clearing House, Shimano American Corporation, Haas School of Business at UC Berkeley, San Francisco Opera Association, Kyoto Symposium Organization, and Japan Society of Northern California; and holding senior leadership positions with the Japanese Chamber of Commerce of Northern California, the Japanese American National Museum, the Asian Art Museum Foundation, the Asia Foundation and the Alliance Forum Foundation.
“The Board of Directors looks forward to working with Sugu as executive chairman at this critical period of the MUFG’s growth in the Americas,” said Mohan Gyani, lead director of MUFG Americas Holdings Corp. and MUFG Union Bank. “Sugu’s more than 35 years of experience with BTMU and MUFG, as well as his distinguished recent service as vice chairman at Bank of Ayudhya, makes him uniquely qualified to take on this important role.
“Masashi has been a tremendous leader. His vast knowledge of the institution and the industry, coupled with his leadership and people skills, has been invaluable to all the directors and the company at large. Above all, he has a unique ability to connect with customers, employees, regulators and just about everyone he comes into contact with. He’s proud of the banking profession and inspires that pride in others. I am pleased to know that his service will continue with MUFG.”
Headquartered in New York, MUFG Americas Holdings Corp. is a financial holding company and bank holding company with total assets of $114.3 billion at June 30. Its principal subsidiary, MUFG Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of June 30, MUFG Union Bank, N.A. operated 390 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as two international offices.
MUFG Americas Holdings Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information.
MUFG (Mitsubishi UFJ Financial Group Inc.) is one of the world’s leading financial groups, with total assets of approximately 264 trillion yen or $2.4 trillion as of March 31. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with over 1,100 offices in 50 countries. It has over 140,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
The group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corp. (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co. Ltd., one of Japan’s largest securities firms. Through close partnerships among its operating companies, MUFG aims to “be the world’s most trusted financial group,” flexibly responding to all of the financial needs of its customers, serving society, and fostering shared and sustainable growth for a better world.
MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. Visit www.mufg.jp/english/index.html for more information.