Coming about a month after his term ended, Mitsubishi UFJ Financial Group said it has appointed John Roos, the former U.S. ambassador to Japan, as one of its global advisory members. This would be the former technology lawyer’s first Japan-related role in the private sector. Japan’s largest bank by assets said it was tapping Mr. Roos as parts of its efforts to enhance global governance and business strategy as it increasingly sets its sights overseas. It set up its Global Advisory Board earlier this year to ask for global advice and counsel to strengthen its governance amid a changing regulatory environment. The Tokyo-based lender has already appointed five members including John Dugan, former U.S. comptroller of the currency and James Sassoon, former commercial secretary to the U.K. Treasury. Mr. Roos was the final member to be picked for the advisory board. Even though domestic banks such as MUFG have been ramping up their businesses abroad aggressively in recent times, they still maintain a relatively insular structure with their boards of directors largely all-male and all-Japanese and lifetime employment still the norm. But signs of a change are afoot. In June, MUFG’s banking unit promoted Randall Chafetz to an executive officer position, which made him the bank’s first non-Japanese executive in its more than 400 year history. The bank also appointed Yuko Kawamoto as an outside director, the first woman to hold that position.
Posted on: Wed, 02 Oct 2013 03:32:53 +0000
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