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SMBC Welcomes Hirofumi Otsuka as New Chief Executive Officer of SMBC Americas Division and President and CEO of SMBC Americas Holdings
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Rhea-AI Summary
SMBC Group announced that Hirofumi Otsuka will take over as the new CEO of SMBC Americas Division and President and CEO of SMBC Americas Holdings from Hiro Hyakutome, effective immediately. Hyakutome transitions to a global compliance role in Tokyo. Otsuka, who has been with SMBC for over 32 years, brings extensive experience from his previous position as Managing Executive Officer and General Manager of Global Banking Unit. This leadership change aims to support ongoing transformation and growth initiatives in the Americas.
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Hirofumi Otsuka's extensive 32-year experience at SMBC enhances leadership continuity.
Otsuka's prior role involved significant global business development, likely benefiting SMBC's Americas strategy.
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NEW YORK--(BUSINESS WIRE)--
SMBC, a member of SMBC Group, announced today that Hirofumi (Hiro) Otsuka will assume the positions of Chief Executive Officer of SMBC Americas Division and President and CEO of SMBC Americas Holdings, Inc. (“SMBCAH”) from Hiro Hyakutome, who served in these roles since April 2019.
Mr. Hyakutome’s new assignment is Senior Managing Executive Officer and Group Chief Compliance Officer for SMBC Group in Tokyo. In his new role, he will oversee the matters related to compliance globally. Mr. Otsuka is proposed to be elected as a member of the Board of Directors of SMBCAH and will be based in New York.
“We are delighted that Mr. Otsuka will join us to lead the organization,” said Reuben Jeffery III, Chairman of the Board of Directors of SMBCAH. “Mr. Otsuka brings a wealth of experience to the Americas from his 32 years at SMBC in various senior-level staff and line capacities, including a decade in the Americas. His extensive knowledge of our business will help ensure the continuity of our planned and ongoing transformation and growth initiatives.”
Mr. Jeffery added, “On behalf of the Board of Directors, I would like to congratulate Mr. Hyakutome on his new global responsibilities and thank him for his extraordinary vision and leadership in the Americas over three years. I also congratulate Mr. Otsuka as we strive to realize even greater promise and opportunity in the Americas.”
Mr. Otsuka was a Managing Executive Officer and General Manager, Global Banking Unit for SMBC, and General Manager, Global Business Unit for Sumitomo Mitsui Financial Group (SMFG) from April 2020 to April 2022. In this capacity, he oversaw groupwide global business development outside Japan.
Mr. Otsuka began his career at SMBC in 1990. Earlier in his career, he had assignments in HR and Corporate Research. He gained extensive experience in structured and project finance through his various positions at the company, including those roles covering real estate, public-private partnerships, leasing, energy and natural resources, and emerging markets. In recent years, his focus has been on business planning and strategies for the entire organization.
Prior to his assignment as General Manager, Global Banking Unit for SMBC and Global Business Unit for SMFG, Mr. Otsuka was Executive Officer and General Manager of the Asia Business Strategic Planning Department from April 2019 to April 2020. He has led SMBC/SMFG’s long-term business strategy and development, including mergers and acquisitions of financial institutions in key Asian markets, such as Indonesia, India, the Philippines, and Vietnam.
Mr. Otsuka spent more than a decade of his career in the Americas, from 2004 to 2014. He was instrumental in establishing the Houston Office in 2006, building the project finance and Latin America businesses in 2007, and held key senior management positions during his tenure in the Americas, including as Chief Representative of the Houston Office, Executive Vice President of SMBC Leasing & Finance, and Managing Director and Co-Head of the Specialized Finance Department.
Mr. Otsuka earned a Bachelor of Engineering (B.E.) degree with a focus on civil engineering from The University of Tokyo.
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 December 31, 2021, its total assets were $2.18 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.
