Top executives of Mitsui Trust & Banking Co. and Chuo Trust & Banking Co. were inundated with questions from reporters Monday as they announced the reversal of an earlier decision regarding the leadership structure of a bank to be set up through a merger of the two firms in April.
When the two trust banks initially announced the merger plan in January 1999, the officials explained that a Chuo executive would become president of the new bank and that a Mitsui official would take the chairman's post.
On Monday, however, the banks said they had changed their minds. From the date of their merger, April 1, Mitsui President Kiichiro Furusawa will take the position of president, while Chuo President Hideie Hirakawa will assume the role of vice president.