TOKYO, May 23 (Reuters) - The head of the Bank of Tokyo-Mitsubishi UFJ, the core unit of Japan’s biggest “megabank,” will step down for health reasons barely a year into the job, sources told Reuters on Tuesday.
President and CEO Takashi Oyamada will be replaced by Deputy President Kanetsugu Mike at a meeting on Wednesday of the board of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest lender by assets, said the sources, one of whom was involved with the decision and two of whom were briefed on the change.
The sources would not elaborate on Oyamada’s health condition. An MUFG spokesman declined to comment. Oyamada, who took over the helm of BTMU in April last year, had widely been seen as a successor to Nobuyuki Hirano to head the MUFG holding company. Like Oyamada, successor Mike is a career insider, joining Mitsubishi Bank in 1979. He served as group head of MUFG’s global business group until this month. (Reporting by Taro Fuse and Taiga Uranaka; Editing by William Mallard)