Bank of Tokyo Mitsubishi-UFJ Ltd. promoted Randall Chafetz, its
Americas corporate and investment banking head, to an executive
officer position at Japan's largest bank as part of the firm's push
to boost its global market share over the next few years.
BTMU, a unit of Mitsubishi UFJ Financial Group Inc. (8306.TO,
MTU), said Mr. Chafetz, who has dual U.S. and Canadian citizenship,
is the bank's first non-Japanese executive officer in the more than
400-year history of the firm, according to a spokeswoman.
In his new role, effective immediately, Mr. Chafetz, 54, will
lead the bank's corporate and investment banking business outside
of Japan and will also head its non-Japanese corporate banking
business.
Under his leadership, BTMU, in the U.S., has climbed data
provider Dealogic's ranking of banks by core investment banking
revenue--including mergers and acquisitions, and equity and debt
underwriting. The firm has moved to 25th year-to-date, with $70.5
million in projected revenue, up from a ranking of 29th, with $104
million in revenue, for all of 2012.
In a statement, Takashi Morimura, deputy president of BTMU and
chief executive of the global business unit, said Mr. Chafetz has
"helped lead BTMU in the Americas to unprecedented levels of
success, expanding the business significantly."
Mr. Chafetz, who is based in Tokyo, will report to Mr. Morimura,
and Takahiro Yanai, managing executive officer.
To fill his former role, BTMU said Mr. Chafetz will be replaced
by two executives. Kevin Cronin will be head of U.S. corporate
banking, while Johannes Worsoe will be head of investment banking
and markets.
Prior to rejoining BTMU in 2008, Mr. Chafetz was chief operating
officer of Mitsubishi UFJ Securities (USA), Inc, the firm's
broker-dealer unit. He previously led both investment banking and
capital markets for that business, after originally joining BTMU in
1998. That move followed stints for Mr. Chafetz at UBS AG (UBS,
UBSN.VX) and Credit Suisse Group AG (CS, CSGN.VX).
Write to Brett Philbin at brett.philbin@dowjones.com
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