Japan's MUFG says to promote deputy president Kamezawa to CEO

TOKYO (Reuters) – Mitsubishi UFJ Financial Group Inc (MUFG) (T:), Japan’s biggest lender by assets, said on Friday that Hironori Kamezawa, currently deputy president, would become chief executive from April.

Outgoing CEO Kanetsugu Mike will become the group’s deputy chairman but will remain as a head of MUFG Bank, it said in a statement.

MUFG, which owns 24% of Morgan Stanley (N:), will hold a news conference later on Friday on the personnel change.

Kamezawa, 58, who has led the group’s digital strategy, would be the first chief executive to have not previously headed MUFG Bank.

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