Teisuke Kitayama
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsui Bank in April 1969. He became a Director of Sakura Bank in June 1997 and Managing Director and Managing Executive Officer in June 2000. When Sumitomo Bank and Sakura Bank merged to form Sumitomo Mitsui Banking Corporation in April 2001, he joined the post-merger management as Managing Director and Managing Executive Officer. He became Senior Managing Executive Officer of the holding company Sumitomo Mitsui Financial Group in June 2003 and Director and Deputy President in June 2004. His career took him from the former Mitsui Bank side to the core of the integrated group.
Selection
In June 2005 he succeeded Yoshifumi Nishikawa, the first President, as President. Nishikawa's four years coincided with the final disposal of bad loans: the fiscal year ended March 2003 saw an ordinary loss of ¥515.7 billion and a net loss of ¥465.4 billion, and the FY ended March 2005 was also in the red with an ordinary loss of ¥30.3 billion and a net loss of ¥234.2 billion. About ¥1.5 trillion in public funds taken on at the group's formation also remained. He took over the holding company from the post of Deputy President right after the losses had been fully booked.
Initiatives
In October 2006 the group fully repaid the roughly ¥1.5 trillion in public funds received at its formation. In the fiscal year ended March 2006 it posted record profits since its formation, with ordinary income of ¥3,705.1 billion, ordinary profit of ¥963.6 billion and net income of ¥686.8 billion. In the FY ended March 2009, impairments on shareholdings and credit costs swelled in the global financial crisis, producing a net loss of ¥373.4 billion. In May that year it won the bid for Nikko Cordial Securities, put up for sale by Citigroup, for ¥545.0 billion, and in October made it a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation, dissolving its joint venture with Daiwa Securities.
Career
Career
Mitsui Bank
| Date | Position |
|---|---|
| Apr 1969 | Joined |
Sakura Bank
| Date | Position |
|---|---|
| Jun 1997 | Director |
| Jun 1999 | Resigned as Director |
| Jun 1999 | Executive Officer |
| Apr 2000 | Managing Executive Officer |
| Jun 2000 | Managing Director and Managing Executive Officer |
Sumitomo Mitsui Banking Corporation
| Date | Position |
|---|---|
| Apr 2001 | Managing Director and Managing Executive Officer |
| Jun 2003 | Senior Managing Director and Senior Managing Executive Officer |
| Jun 2004 | Resigned as Director |
| Jun 2005 | Chairman |
Sumitomo Mitsui Financial Group
| Date | Position |
|---|---|
| Jun 2003 | Senior Managing Executive Officer |
| Apr 2004 | Executive Vice President, Executive Officer |
| Jun 2004 | Executive Vice President |
| Jun 2005 | President |
| Apr 2011 | Stepped down as President |