MUFG names Hironori Kamezawa as its Digital Chief
In order to accelerate its digitalisation efforts to cut costs and fend off emerging fintech rivals, Mitsubishi UFJ Financial Group (MUFG) has made a change in its top order. It’s only a year in the job, Mitsubishi UFJ Financial Group CEO Kanetsugu Mike has been replaced by the Japanese giant's Digital Chief Hironori Kamezawa.
A graduate in Mathematics from University of Tokyo Kamezawa has been leading a technology overhaul and overseeing innovation efforts such as the MUFG digital coin.
Speaking at a news conference, Kamezawa told reporters, "The business environment surrounding the financial industry has changed a lot with the entry of other types of firms into the sector."
He adds, "Large overseas banks have similar anxiety over digitalisation. The biggest task is how we strike a balance between ensuring security and convenience."
Kamezawa takes on the new role in April, with Mike remaining Head of MUFG Bank and becoming the group's Deputy Chairman.
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