The government will appoint Hideo Ogasawara, who once headed the former UFJ Holdings Inc., to head the banking unit to be created when Japan Post is privatized in October 2007, sources said Wednesday.
By appointing a former executive of a major commercial bank -- which merged last year to form Mitsubishi UFJ Holdings Financial Group Inc. -- the government hopes to strengthen the management base of the postal savings bank.
The government is expected to announce the appointment of Ogasawara, 67, as early as Thursday as it is in the final stages of choosing the heads of the four companies to be formed when the mammoth postal organization is privatized.