Masatoshi Komoriya Appointed Executive Chairman of the Board of MUFG Americas Holdings Corporation and MUFG Union Bank, N.A.

Rhea-AI Summary

On June 28, 2022, MUFG announced the appointment of Masatoshi Komoriya as the new Executive Chairman of MUFG Americas Holdings Corporation and its U.S. banking subsidiary, MUFG Union Bank, N.A., effective June 30, 2022. Komoriya, who brings over 30 years of banking experience in Japan, the U.S. and EMEA, succeeds Kazuo Koshi, who served as Executive Chairman from April 2020 to April 2022. Komoriya will also continue in his roles as Deputy Chief Operating Officer and Deputy Chief Executive of the Global Commercial Banking Business Group.

Positive

• Masatoshi Komoriya has over 30 years of banking experience, enhancing leadership credibility.
• Komoriya's appointment is expected to drive strategic development in U.S. operations.
• The company maintains strong assets with total assets of $332.4 billion as of March 31, 2022.

Negative

• Kazuo Koshi's departure might impact continuity in leadership during the transition.

NEW YORK, June 28, 2022 /PRNewswire/ -- MUFG, one of the world's leading financial groups, today announced that Masatoshi (Masa) Komoriya has been appointed Executive Chairman of the board of directors for MUFG Americas Holdings Corporation and its U.S. banking subsidiary, MUFG Union Bank, N.A., effective June 30, 2022. A member of the board of directors since April 2022, he will continue to be based in New York.

Mr. Komoriya succeeds Kazuo (Kaz) Koshi, who has been a member of the board of directors since 2016. Mr. Koshi was Executive Chairman from April 2020 to April 2022 and transitioned to Chairman in April.

"On behalf of my fellow board members, we are delighted that Masa has been appointed Executive Chairman," said Toby S. Myerson, lead independent director. "Masa's more than 30 years of successful banking experience in Japan, the U.S. and EMEA makes him uniquely qualified to serve as Executive Chairman." Mr. Myerson continued. "Kaz has been a trusted partner to me and to the board for many years, and we have benefitted tremendously from his leadership and deep institutional knowledge. He will be missed greatly, but we thank him and wish him well as he returns to Tokyo to serve as Advisor to MUFG Bank, Ltd. President and CEO Junichi Hanzawa."

In addition to serving as Executive Chairman, Mr. Komoriya will continue as Deputy Chief Operating Officer, International and Deputy Chief Executive of the Global Commercial Banking Business Group for MUFG. He assumed these New York-based positions in April 2022.

From 2018 until this April, Mr. Komoriya was Executive Officer and Chief of Staff for the Americas for MUFG Bank, Ltd. and MUFG Americas Holdings Corporation, which includes MUFG Union Bank, N.A., MUFG Securities Americas Inc., and MUFG Fund Services (USA) LLC.

From May 2017 to June 2018, Mr. Komoriya was Executive Officer and Chief Operating Officer for MUFG Bank, Ltd. in EMEA. During his working in EMEA, he developed his career in strategic planning, including branch network optimization in the EU continent, and Brexit contingency planning.

From 2010 to 2017, Mr. Komoriya held a number of senior-level positions within The Bank of Tokyo-Mitsubishi UFJ, Ltd.'s Tokyo and London offices. He also has previous experience with MUFG in New York, where he was a Senior Manager in the bank's Planning Division for the Americas from 2006 to 2010.

Mr. Komoriya graduated from Waseda University in Tokyo with a BA in Law, and earned degrees in Master of Laws from the University of Pennsylvania and Master of Laws (Corporation) from New York University Law School.

About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $332.4 billion at March 31, 2022. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $159.2 billion at March 31, 2022. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of March 31, 2022, MUFG Union Bank, N.A. operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

Press contact:
Oksana Poltavets                     
(646) 767-1326
opoltavets@us.mufg.jp 

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SOURCE MUFG

FAQ

Who is the new Executive Chairman of MUFG Americas Holdings Corporation?

Masatoshi Komoriya has been appointed as the new Executive Chairman.

When did Masatoshi Komoriya start his role as Executive Chairman?

He officially begins his role as Executive Chairman on June 30, 2022.

What are Masatoshi Komoriya's previous roles at MUFG?

Before his appointment, he was Deputy Chief Operating Officer and Chief of Staff for the Americas.

What is MUFG's total asset value as of March 31, 2022?

MUFG reported total assets of $332.4 billion as of March 31, 2022.

What positions did Kazuo Koshi hold before Masatoshi Komoriya?

Kazuo Koshi served as Executive Chairman from April 2020 to April 2022.