Tsuneo Wakai
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsubishi Bank in April 1948. He became President in June 1990 after serving as Deputy President. A career employee who spent 42 years at a single bank, he followed the same path to the top as his predecessor Kazuo Ibuki, promotion from Deputy President.
Selection
In June 1990 he succeeded Kazuo Ibuki as President. Sanwa Bank, which had grown its retail business, ranked first in all three of core net business profit, ordinary profit and net income in 1992, and its domestic offices topped 1,000 in March 1993. The change of President came as land and stock prices turned downward.
Initiatives
In November 1994 the bank acquired 68% of Nippon Trust Bank and established the securities subsidiary Mitsubishi Diamond Securities. On the merger with The Bank of Tokyo, he explained its aims alongside Bank of Tokyo President Tasuku Takagaki in September 1995. On April 1, 1996, Mitsubishi Bank merged with The Bank of Tokyo as the surviving company at a ratio of 1 to 0.8, forming The Bank of Tokyo-Mitsubishi with total assets of about ¥72 trillion, the world's largest at the time. Wakai stepped back to Chairman at the launch, and Takagaki of the former Bank of Tokyo served as first President.
Career
Career
Mitsubishi Bank
| Date | Position |
|---|---|
| Apr 1948 | Joined |
| Jun 1990 | President |
| Apr 1996 | Chairman, Bank of Tokyo-Mitsubishi |
| Apr 1996 | Stepped down as President |