SMBC Americas Appoints Mark Corteil as Chief Risk Officer

Rhea-AI Summary

Sumitomo Mitsui Banking Corporation (SMBC) appoints Mark Corteil as Chief Risk Officer for the Americas Division, emphasizing his leadership skills and deep knowledge of the space to meet evolving risk demands.

NEW YORK--(BUSINESS WIRE)-- Sumitomo Mitsui Banking Corporation (SMBC) today announced the appointment of Mark Corteil as Chief Risk Officer for the Americas Division.

In this role, Mark will serve on the Americas executive team and lead the firm in developing and maintaining a robust risk management framework, while embedding a strong culture of risk awareness and ownership across the Americas.

“Mark has made a significant impact as a member of our risk management team and has consistently demonstrated a capacity for leadership,” said Hirofumi Otsuka, Chief Executive Officer, SMBC Americas Division. “His deep knowledge of the space will help SMBC meet the demands of an evolving risk landscape as we continue to grow.”

Mark joined SMBC in 2022 as Americas Chief Credit Risk Officer, where he oversaw all aspects of credit risk management in the region. Prior to joining SMBC, Mark spent more than a decade as the Chief Credit Officer and Head of Global Markets Risk for State Street Corporation. He started his career in the UK and has more than 20 years of experience in the U.S. market, where he held several senior roles in credit risk for Deutsche Bank in support of its North American business.

About SMBC Group

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. SMBC Group has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. For more information, please visit www.smbcgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240312030617/en/

MediaRelationsAmericas@smbcgroup.com

Source: Sumitomo Mitsui Banking Corporation

FAQ

Who is the new Chief Risk Officer for Sumitomo Mitsui Banking Corporation's Americas Division?

Mark Corteil has been appointed as the Chief Risk Officer for the Americas Division of Sumitomo Mitsui Banking Corporation.

What is Mark Corteil's background and experience?

Mark Corteil has over 20 years of experience in the U.S. market, previously holding senior roles in credit risk at Deutsche Bank and serving as Chief Credit Officer and Head of Global Markets Risk at State Street Corporation.

What role did Mark Corteil previously hold at SMBC?

Before his current appointment, Mark Corteil served as the Americas Chief Credit Risk Officer at Sumitomo Mitsui Banking Corporation.

How will Mark Corteil contribute to SMBC as Chief Risk Officer?

Mark Corteil will lead the firm in developing and maintaining a robust risk management framework, fostering a culture of risk awareness and ownership across the Americas division.