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Resona Holdings Inc. will appoint Hiroyuki Mizuta, president of its affiliate, Kinki Osaka Bank, as the holding company’s new president, sources close to the group said Thursday.

Mizuta, 56, will replace President Kenji Kawada, 56, who will become president of Saitama Resona Bank. Chairman Eiji Hosoya, 61, will remain in his current position.

The appointments are intended to strengthen the relationship between the holding firm and its affiliates. The changes will be made official at a board meeting following the general shareholders’ meeting scheduled for June.