Japan’s SMFG names Toru Nakashima as CEO

Nakashima retired from SMBC in April 2022, but returned to the company in 2023.

Japan’s Sumitomo Mitsui Financial Group has officially appointed Toru Nakashima as president and CEO, effective 1 December.

Nakashima has served as the group’s deputy president and executive officer, as well as co-head of the wholesale business unit since April 2023.

The appointment is subject to approval at the annual general meeting of shareholders to be held in June 2024. Nakashima is also expected to become a Director of Sumitomo Mitsui Financial Group.

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Nakashima, born in 1963, first joined Sumitomo Bank in 1986. He eventually rose to the position of managing executive officer of Sumitomo Mitsui Banking Corporation in 2016.

He retired from SMBC in April 2022, but rejoined as director of SMBC a year later in March 2023, before becoming deputy president and executive officer a month later.