Jun Ota
Profile
Performance in office
Tenure
Tenure
Background
He joined the bank in April 1982, became an Executive Officer of Sumitomo Mitsui Banking Corporation in April 2009, Director and Senior Managing Executive Officer in April 2015 and Director, Deputy President and Executive Officer in March 2018. At the holding company he was Managing Executive Officer from April 2013, a Director from June 2014 and Director, Deputy President and Executive Officer from June 2017. From a position combining bank Deputy President and holding company Deputy President, he became President in April 2019.
Selection
In April 2019 he succeeded Takeshi Kunibe as President and, under the banners of "beyond finance" and "a factory for producing presidents," diversified revenue sources outside banking. In the fiscal year ended March 2019, the year before he took office, ordinary income was ¥5,735.3 billion, ordinary profit ¥1,135.3 billion and net income ¥726.6 billion; Kunibe's two years had been flat under the Bank of Japan's negative interest rate policy. The choice appears to have been aimed at changing how the business was built, on the premise that domestic deposit and lending operations would not grow.
Initiatives
In July 2020 the group merged Cedyna with SMBC Finance Service, concentrating its payments business in one company. In March 2023 it launched Olive, an app combining accounts, payments, securities and insurance, setting targets of 12 million accounts and about ¥80 billion in revenue contribution within five years of launch. In December 2023 he died suddenly in office, and Toru Nakashima succeeded him as President.
Career
Career
Sumitomo Mitsui Banking Corporation
| Date | Position |
|---|---|
| Apr 1982 | Joined |
| Apr 2009 | Executive Officer |
| Apr 2012 | Managing Executive Officer |
| Apr 2015 | Director and Senior Managing Executive Officer |
| Mar 2018 | Director and Deputy President, Executive Officer |
Sumitomo Mitsui Financial Group
| Date | Position |
|---|---|
| Apr 2013 | Managing Executive Officer |
| Jun 2014 | Director |
| Jun 2017 | Director, Executive Deputy President |
| Apr 2019 | Director, Corporate Executive Officer, President |
| Dec 2023 | Stepped down as President |