MUFG appoints new regional executive for Asia
Noriato Goto will be responsible for ensuring the safety and soundness of MUFG Bank’s businesses and operating platforms in the region
24 May 2019 | The Asset

MUFG have appointed Noriaki (Nori) Goto as the regional executive for Asia. His appointment takes effect today. Goto is concurrently the managing corporate executive of MUFG and senior managing executive officer of MUFG Bank.

Based in Singapore, he will be responsible for ensuring the safety and soundness of MUFG Bank’s businesses and operating platforms in the region.

Goto assumes the role from Takayoshi Futae, who returned to Japan to assume two senior appointments – as the Chief Executive of Global Commercial Banking Business Unit and Chief Operating Officer-International (COO-I).

Prior to this appointment, Goto was President and Chief Executive Officer of Bank of Ayudhya or Krungsri in Thailand, a position he assumed in January 2014. He also served as an executive director of the Board of Directors and the Chairman of the Executive Committee of the Bank. Goto was appointed as vice chairman of Krungsri on May 15.

Under his stewardship, Krungsri, which is majority-owned by MUFG, made significant progress in the local banking sector and in September 2017, the bank became one of the country’s five Domestic Systemically Important Banks (D-SIBs). Goto also pushed for greater collaboration between Krungsri and MUFG by leveraging on the latter’s global network and expertise.

For his contributions to Krungsri, Goto was named Best CEO for Thailand in Banking and Finance by The Asset magazine consecutively in 2016 and 2017.

Reiterating the importance of Asia to MUFG’s global business, Goto said: “I am honoured to be given the opportunity to further spearhead MUFG’s growth in one of the world’s most dynamic and exciting regions.”

He added: “Over the years, MUFG has not only raised its profile in Asia, but has also invested more than US$14 billion in developing an unrivalled network consisting of some of the most prominent banks in Southeast Asia. With this powerful network, we are in a unique position to provide a more integrated and holistic suite of solutions to customers in Asia as well as better connect our global clients to its opportunities.

“As the region continues to grow in importance in the global economy, MUFG remains committed to serving as a gateway to Asia, and I look forward to working with our talented and motivated team here to bring the bank into a new era.”

In Asia, MUFG has a presence across 20 markets – Australia, Bangladesh, Cambodia, China, Hong Kong, Indonesia, India, Korea, Laos, Malaysia, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.

Futae’s tenure as regional executive has seen the bank strengthened its network in Asia, most notably in the successful acquisition of a 94.1% stake in Bank Danamon in Indonesia. He took on this expanded role in July 2018 and prior to that, was the CEO for the bank’s Asia & Oceania region since May 2016.

MUFG has also formed other strategic partnerships with some of the region’s leading banks – VietinBank in Vietnam, Security Bank in the Philippines and Krungsri in Thailand.

Have you read?