China central bank urges state-owned businesses to prioritise yuan in overseas expansion
Japan’s Sumitomo Mitsui Financial Group CEO dies at 65
9:39 CAT | 27 Nov 2023
FILE - Sumitomo Mitsui Financial Group Inc (SMFG)'s chief executive Jun Ohta attends a news conference in Tokyo, Japan, December 14, 2018.[File photo: Reuters/Kim Kyung-Hoon]
Sumitomo Mitsui Financial Group on Monday said group CEO Jun Ohta died on Nov. 25 aged 65 of pancreatic cancer.
Japan’s second-biggest lender after Mitsubishi UFJ Financial Group (8306.T) said it plans to announce a successor in the near future as soon as an appointment is made.
Until the new appointment, Deputy President and Executive Officer Toru Nakashima will perform CEO duties, the bank said.
Ohta joined The Sumitomo Bank, a predecessor of SMFG, in 1982 and rose to group CEO in April 2019. He also served as a vice chairman of Keidanren, Japan’s biggest business lobby.
Ohta recently sought to expand SMFG’s footprint in overseas markets through an alliance with U.S. investment bank Jefferies Financial Group (JEF.N).
Source: Reuters
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