• Published on 23 May 2017
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Bank of Tokyo-Mitsubishi UFJ chief Takashi Oyamada to step down

The head of Bank of Tokyo-Mitsubishi UFJ plans to step down after a little more than a year on the job, an unusual move at a bank known for long-serving chiefs.

Takashi Oyamada became the bank's CEO in April 2016, but will resign due to what is said to be health reasons. That position is usually held for at least four years. Oyamada, 61, also assumed the role as chairman of the Japanese Bankers Association just last month.

Mitsubishi UFJ Financial Group, which controls the banking unit, will hold an extraordinary board meeting as soon as Wednesday, at which 60-year-old BTMU Deputy President Kanetsugu Mike is expected to be named as Oyamada's successor. The megabank announced earnings and held its regular board meeting just last week, which makes this gathering all the more unusual.

Both Oyamada and Mike joined BTMU's predecessor Mitsubishi Bank in 1979. Mike has served as co-chief executive of BTMU's global business unit since 2016.

Re-disseminated by The Asian Banker from Nikkei Asian Review