TOKYO, Sep. 24, 2009 (Kyodo News International) -- The Japanese Bankers Association said Thursday it has nominated Masayuki Oku, president of Sumitomo Mitsui Banking Corp., to serve as its chairman for one year from next April, succeeding Katsunori Nagayasu, president of the Bank of Tokyo-Mitsubishi UFJ.
Oku, who served in the post in fiscal 2007, will assume the duty for the second time, according to the nation's biggest grouping of banks.
The post is assumed on a rotational basis by top managers of Japan's three megabank groups -- Mizuho Financial Group Inc. (NYSE:MFG) , Sumitomo Mitsui Financial (OOTC:SMFJY) Group Inc. and Mitsubishi UFJ Financial Group (NYSE:MTU) Inc.