Masashi Teranishi, senior managing director at Sanwa Bank, will become president of UFJ Bank when it is launched Jan. 15, instead of Sanwa Bank President Kaneo Muromachi, as had been earlier decided, a Sanwa Bank spokesman said Friday.

The UFJ Financial Group, comprising Sanwa Bank, Tokai Bank, and Toyo Trust & Banking Co., decided it would be better not to have Muromachi as president of the new bank in light of the poor performance at Sanwa Bank, the spokesman said.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.