Stock Groups

Japan’s No. 3 lender Mizuho to appoint senior executive Kihara as new chief -source -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: The Mizuho Financial Group logo can be seen in Tokyo’s main office on August 20, 2018. Picture taken August 20, 2018. REUTERS/Toru Hansai

By Yuki Nitta

TOKYO, Reuters – Mizuho Financial Group has appointed Masahiro Khara to be its next chief executive in order to restructure Japan’s No. A person with knowledge of the matter stated Tuesday that Japan’s No. 3 lender was hit by several system breakdowns.

According to another source, Mizuho will name the new chief Monday when the bank reports to them measures to avoid system failures.

As the matter remains private, sources could not be identified. Mizuho spokespersons said there was no decision.

Kihara is a graduate of Duke University School of Law and joined Mizuho in 1989 to work at Industrial Bank of Japan. He was also employed by the securities division of the bank. Kihara, who is 56 years old and the older brother of Seiji Kihara (deputy chief cabinet secretary), was born in Japan.

To take full responsibility for these problems, the group’s chairman, CEO and head of its main bank unit will all be stepping down in April. Mizuho had technical issues last year, despite the $3.6B overhaul of its system in 2019.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]