Hirano to take leadership of MUFG

Kyodo

Bank of Tokyo-Mitsubishi UFJ President Nobuyuki Hirano is expected to succeed Katsunori Nagayasu as president of its holding company on April 1, sources said Wednesday.

Hirano, 61, will continue to serve as president of the banking unit while Nagayasu, 65, who also serves as the unit’s chairman, will retain that title, they said.

Meanwhile, Mitsubishi UFJ Trust and Banking President Tatsuo Wakabayashi, 60, will succeed Kinya Okauchi, 61, as deputy chairman of the holding company, Mitsubishi UFJ Financial Group Inc., according to the sources. Okauchi will continue to serve as the trust bank’s chairman.

Last year, Nagayasu had considered turning over the holding firm’s presidency to Hirano when Nagayasu stepped down as its banking unit’s president. But facing calls within the group to stay as president due to worries over consequences of the European debt crisis in the financial sector, he continued to serve.