Sumitomo Mitsui Financial Group’s CEO Jun Ohta, who pursued an aggressive expansion abroad during his four years at the helm of Japan’s second-largest bank, has died. He was 65.

Ohta died on Saturday, the Tokyo-based lender said in a statement. The cause of death was pancreatic cancer, a spokesperson said on Monday.

Ohta’s well-being attracted attention when he missed an earnings briefing earlier this month, with the bank citing health reasons. Deputy President Toru Nakashima has started acting duties for the time being, and the company will select and announce a successor in a timely manner, it said.

Having worked in Singapore previously as a mid-level manager, Ohta became an advocate for building full-banking services in key markets in Asia. He also oversaw a build-up in investment in Jefferies Financial Group to boost Sumitomo Mitsui’s investment banking business in the United States.

Ohta often used the phrase "banking is a GDP business” during interviews, meaning the fortunes of the company were tied to the economic growth of home countries.

To that end, Sumitomo Mitsui picked four Asian nations — Indonesia, India, Vietnam and the Philippines — as focus markets. The bank invested billions of dollars across the region in recent years as growth opportunities at home dwindled due to the country’s slow economic expansion and bouts of deflation.

An American football player during his college years, Ohta was known within industry circles for his frankness and unassuming character. He broke the mold for employees by introducing a more relaxed office dress code and encouraging younger workers to establish in-house startups.

That legacy will remain, according to Toyoki Sameshima, an analyst at SBI Securities in Tokyo.

"He was a straight talker,” Sameshima said. "Ohta’s policy will be continued by whoever succeeds him.”

Ohta was among the first Japanese bank executives to publicly voice the need to prepare for opportunities presented by rising rates. With inflation starting to take hold in Japan, bank shares have been surging on expectations that the central bank may soon scrap its seven-year negative interest-rate policy.

Shares of Sumitomo Mitsui have jumped 40% this year and are up by about 90% since Ohta became CEO in April 2019. The stock rose by 0.7% on Monday morning in Tokyo, in line with peers.

Earnings prospects have contributed to the gains, also benefiting its main rivals Mitsubishi UFJ Financial Group and Mizuho Financial Group. Sumitomo Mitsui this month raised its net income forecast to ¥920 billion ($6.2 billion) for the year ending March, which would be a record. The bank also unveiled plans to spend as much as ¥150 billion to repurchase stock.

One setback on Ohta’s watch was a probe into block trading at SMBC Nikko Securities, the group’s investment banking arm. The unit was found guilty of market manipulation earlier this year and some former executives remain on trial. Ohta took a pay cut for six months.

Meanwhile, Ohta made strides to boost the bank’s digital efforts. He cemented an alliance with SBI Holdings by taking a stake in the operator of Japan’s biggest online brokerage to woo younger, tech-savvy clients.

In March this year, Sumitomo Mitsui launched a new all-in-one mobile app in an attempt to attract users with generous rewards programs. Once Japan’s interest rates start to rise, the scale of a bank, including the size of its deposits, will provide a big advantage for its profits, Ohta said at the time.

"He took a step to court deposits and customers ahead of rivals with the Olive app,” Sameshima said. "He had foresight.”