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SMBC Hires Mark Corteil as Chief Credit Risk Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
SMBC has appointed Mark Corteil as Managing Director and Chief Credit Risk Officer for the Americas. He will manage credit risk across the region, reporting to both Kim Olson and Yasuhori Takahasi. Corteil, with over 20 years of experience, previously served at State Street Corporation and Deutsche Bank. His leadership is expected to support SMBC's growth strategy. The Group, part of SMFG, operates globally, boasting over 140 offices and considerable assets totaling $2.11 trillion.
Positive
Mark Corteil's appointment may bring fresh perspectives and leadership to the Americas Division.
Corteil's extensive experience in credit risk management is likely to strengthen the company's risk management framework.
Negative
Transition periods may introduce temporary disruptions in leadership continuity as new strategies are implemented.
NEW YORK--(BUSINESS WIRE)--
SMBC, a member of SMBC Group, announced today the appointment of Mark Corteil as Managing Director and Chief Credit Risk Officer for the Americas Division.
In this role, Mark is responsible for overseeing all aspects of credit risk management in the Americas region. He reports to Kim Olson, AmericasChief Risk Officer, and Yasuhori Takahasi, Global Head of Credit, based in Tokyo.
“After an extensive search, we are very glad that Mark has joined our team,” said Olson. “Mark’s deep and broad credit skills and collaborative and dynamic leadership style will be instrumental in supporting our growth.”
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, where he was responsible for credit and market risk globally and actively undertook a variety of regulatory engagements.
Mark started his career in the UK and has more than 20 years of experience in the U.S. market. 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. The Group has more than 140 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 New York (NYSE: SMFG) stock exchanges. As of March 31, 2022, its total assets were $2.11 trillion.
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 Rail Services LLC, Manufacturers Bank, 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.
