NEW YORK, January 22, 2016 – Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups, today announced that Muneaki Tokunari and Suneel Kamlani are being added to the Board of Directors for MUFG Americas Holdings Corporation.
Mr. Tokunari, currently Managing Executive Officer, Group Chief Financial Officer for MUFG, is also joining the Board of Directors for MUFG Americas Holding Corporation’s U.S. banking subsidiary, MUFG Union Bank, N.A. In addition to his new Board roles, both of which became effective on January 21, 2016, Mr. Tokunari serves as a Director on the Boards of MUFG and The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a wholly owned subsidiary of MUFG. MUFG Americas Holdings Corporation is a wholly owned subsidiary of BTMU.
Mr. Tokunari has been with MUFG and Mitsubishi UFJ Trust and Banking Corporation (MUTB) and their legacy companies for more than 30 years. He assumed his current role at MUFG, and was named a Managing Director of BTMU, in June 2015. Previously, Mr. Tokunari had been Senior Managing Director in charge of Corporate Planning for MUTB, a wholly owned subsidiary of MUFG.
Effective April 1, 2016, Mr. Kamlani will be an independent Director on the MUFG Americas Holdings Corporation Board. Mr. Kamlani has over 30 years of investment banking experience. He served as Co-Chief Executive Officer of Markets and President of Global Banking & Markets at The Royal Bank of Scotland, and as Chief Operating Officer of UBS Investment Bank. On January 1, 2016, Mr. Kamlani was appointed as an independent Director to the Board of Mitsubishi UFJ Securities (USA), Inc., a wholly owned subsidiary of Mitsubishi UFJ Securities Holdings Co., Ltd., the securities holding company wholly owned by MUFG.
"Muneaki and Suneel bring decades' worth of professional wisdom to their new roles as Directors," said Kanetsugu Mike, Executive Chairman of MUFG Americas Holdings Corporation and MUFG Union Bank. "I'm confident their insight and experience will be extremely valuable, and we are delighted they will be joining us as we continue to seek innovative ways to grow our business amid an ever-challenging competitive landscape."
Background of New Directors
In addition to his role as Managing Executive Officer, Group CFO for MUFG, Mr. Tokunari is a Director on the MUFG Board and a Managing Director of BTMU.
Mr. Tokunari began his MUFG career with The Mitsubishi Trust and Banking Corporation in 1982. Five years later, he was appointed Assistant Manager of its London Branch, before being named Manager of the Corporate Advisory Group in 1996. Mr. Tokunari was appointed Manager of the Task Force for Corporate Integration with The Bank of Tokyo-Mitsubishi, Nippon Trust and Banking Co., Ltd., and The Tokyo Trust Bank, Ltd. in 2000. The following year, he was named Deputy General Manager of the Corporate Planning Division, and in 2004, was appointed Deputy General Manager of the Task Force for the merger with UFJ Trust Bank.
In 2005, Mr. Tokunari became General Manager of the Frontier Strategy Planning and Support Division of MUTB, and in 2006, he was named General Manager of the Financial Planning Division of MUFG. Mr. Tokunari was appointed Executive Officer in charge of Financial Planning for MUFG in 2009, and in 2010, became Executive Officer in charge of Corporate Planning for MUTB. In 2013, Mr. Tokunari was named a Senior Managing Director in charge of Corporate Planning of MUTB. He was then appointed as a Director and a Managing Executive Officer of MUFG and a Managing Director of BTMU in June 2015.
Mr. Kamlani is a senior banking executive with over 30 years of experience running global markets and investment banking businesses. He has a sophisticated knowledge of risk and financial markets globally.
Mr. Kamlani served as Co-CEO of Markets, Chairman of Markets and International Banking, and Deputy Head of RBS Group Americas at The Royal Bank of Scotland (RBS). He was appointed a member of the RBS Group Executive Committee with responsibilities for 118,000 staff in 39 countries. He joined RBS as President of Global Banking and Markets in 2010.
Prior to RBS, Mr. Kamlani spent 22 years in senior management roles at UBS Investment Bank, rising to the position of Chief Operating Officer and member of the UBS Group Managing Board. Over two decades, he led the Debt Capital Markets, Fixed Income and Investment Banking businesses in the U.S., Europe and Asia. He advised major corporations, financial institutions and governments in over 30 countries.
Mr. Kamlani restructured and strengthened two top-tier investment banks following the 2007-2008 financial crisis. He exited non-core activities, deleveraged the balance sheets, tightened financial and operational risk management, cut costs and repositioned businesses to compete in the new regulatory environment.
Mr. Kamlani began his investment banking career at Bankers Trust in New York, which is now part of Deutsche Bank. He has a B.A. in economics from Northwestern University, and currently serves as an Advanced Leadership Fellow at Harvard University.
About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company and bank holding company with total assets of $115.2 billion at September 30, 2015. Its principal subsidiary, MUFG Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of September 30, 2015, MUFG Union Bank, N.A. operated 390 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as two international offices. MUFG Americas Holdings Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd. which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information.
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
MUFG (Mitsubishi UFJ Financial Group, Inc.) is one of the world's leading financial groups, with total assets of approximately ¥289.2 trillion (JPY) or $2.4 trillion (USD)1, as of September 30, 2015. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with about 1,200 offices in nearly 50 countries. The Group has over 140,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. Through close partnerships among our operating companies, the Group aims to “be the world’s most trusted financial group”, flexibly responding to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. Visit www.mufg.jp/english/index.html.
(1)Exchange rate of 1 USD=¥119.96 (J-GAAP) as of September 30, 2015