Mizuho Financial Group chief executive Tatsufumi Saki is reportedly planning to step down following government criticism over multiple glitches at the Japanese lender.
Mizuho CEO Tatsufumi Sakai is likely to step down, according to multiple Japanese media reports, though a spokesperson for the bank said nothing has been decided with regards to management changes.
The reports of Sakai’s exit after he first joined in 2018 follow multiple outages at Mizuho which subsequently led to Japanese authorities issuing an order in September for the bank to review system upgrades.
In one of the glitches, all 460 of Mizuho’s bank branches in the nation were unable to process transactions for around an hour.
Another Regulator Order
According to a «Nikkei» report citing unnamed sources, Japan’s Financial Services Agency is preparing another «business improvement» order related to the glitches.
Authorities are also looking into the potential violation of rules on overseas remittances during one of the eight glitches suffered this year when the delays led the bank to skip necessary processes to check transactions.
