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Union Bank in San Francisco and its Japanese parent company plan a series of changes to its corporate names and structure, all in response to the Federal Reserve Board's plan to overhaul the way it supervises foreign banks.
February 28 -
Mitsubishi UFJ Financial Group has created a holding company to oversee the North and South American operations of its two subsidiaries: Bank of Tokyo-Mitsubishi UFJ, based in New York City, and Union Bank, based in San Francisco.
July 16 -
Mitsubishi UFJ Financial Group, in a major break with tradition, has tapped a former UBS Group executive as its first non-Japanese president and chief executive for its American division.
April 9
MUFG Americas Holdings in New York, the holding company for California's Union Bank, has named Kanetsugu Mike chairman of the holding company and bank.
Mike will succeed Masashi Oka as executive chairman of the $114 billion-asset company. Oka will become special adviser to Nobuyuki Hirano, president of Bank of Tokyo-Mitsubishi UFJ. Their new positions take effect Oct. 23.
Mike will retain his role as regional executive for the Americas, with oversight of MUFG Americas Holdings' U.S., Latin American and Canadian businesses, a position he has held since May. Mike will also continue as senior managing executive officer and deputy chief executive of the global business unit of Bank of Tokyo-Mitsubishi UFJ.
Oka was chief executive of Union Bank in San Francisco and its holding company, UnionBanCal, from July 2010 to June 2014.
