Thursday, February 28, 2013
DJ: Mitsubishi UFJ To Appoint Director Hirano As New President
TOKYO--Mitsubishi UFJ Financial Group Inc. (8306) said Thursday it has appointed its core banking unit chief Nobuyuki Hirano, 61, as the group's president, effective April 1.
Mr. Hirano, who, last year, became president of the Bank of Tokyo-Mitsubishi UFJ, Japan's largest bank by assets, will serve as the chief executive both at BTMU and MUFG, where he is currently a director.
Current MUFG president, Katsunori Nagayasu will remain as chairman of BTMU.
Mr. Hirano, who was widely expected to succeed Mr. Nagayasu as the group's chief, previously served as a director at Morgan Stanley (MS) and has been a key figure in the bank's relationship with the U.S. investment bank after MUFG bought about a 21% stake in Morgan Stanley in 2008 amid the financial crisis sparked by the collapse of Lehman Brothers.