MUFG’s next CEO seeks growth to close gap with global rivals
Junichi Hanzawa, the next CEO of Mitsubishi UFJ Financial Group, will take the reins of Japan’s largest bank as it rakes in record profits. His challenge will be sustaining that growth beyond the windfall of rising interest rates.Hanzawa, 60, who is currently the head of the main banking unit, will succeed Hironori Kamezawa on April 1, MUFG said in a statement on Tuesday. Kamezawa, 64, who has been CEO since 2020, will become chairman.Long considered the heir-apparent, Hanzawa is typical of a traditional bank leader in Japan: a life-long insider who built his career as a corporate staffer, playing a key role in strategic planning and regulatory affairs. While widely seen as a safe choice, whether he can further elevate the group with ¥400 trillion ($2.6 trillion) in assets will be closely watched.
