The group chief executive officer of Japanese «megabank», Sumitomo Mitsui Financial Group, has passed away at the age of 65.
Jun Ohta, the president and group CEO of Sumitomo Mitsui Financial Group (SMFG), passed away on 25 November 2023 at the age of 65, according to a statement. A spokesperson confirmed that the cause of death was pancreatic cancer.
«Due to this change, Toru Nakashima, Deputy President and Executive Officer (Representative Executive Officer) has started the acting duties for the time being. We will be selecting the successor in accordance with appropriate procedure, and will announce in a timely manner,» the bank noted.
SMFG Lifer
In 1982, Ohta joined SMFG – one of Japan’s three so-called «megabanks» – after graduating from Kyoto University. There, he would start and end his 41-year financial services career, holding various senior positions in structured finance, investment banking and more. In 2017, he was deputy president, executive officer as well as chief financial officer, chief strategy officer and chief digital innovation officer for the group.
Since 2019, he has served as the bank’s president and group CEO. In 2020, he was also named vice chairman of Japanese business lobby Keidanren.
