Sakura Bank will renovate its organization by upgrading its investment banking division into a de facto “internal company” and regrouping its commercial banking divisions, effective Oct. 1.
The renovation is part of the bank’s strategy for dealing with the upcoming “Big Bang” of financial deregulation. A “company president” will be assigned to the new investment banking division, which includes such operations as corporate financing and fund management. The “presidency,” to be assumed by a Sakura vice president, will have nearly independent authority on personnel affairs, budget compilation and organizational restructuring.
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