Yasuhiro Sato
Profile
Performance in office
Tenure
Tenure
Background
He became an Executive Officer of Mizuho Corporate Bank in March 2003, Managing Executive Officer in April 2004, Managing Director in March 2006 and Director and Deputy President in April 2007. In April 2009 he became its President. At the holding company he became a Director in June 2009 and moved to President and Group CEO in June 2011. His career took him from President of the bank to the top of the holding company.
Selection
In the fiscal year ended March 2011, the year before he took office, ordinary income was ¥2,716.7 billion, ordinary profit ¥588.5 billion and net income ¥413.2 billion. Prompted by the system failure of March 2011, Mizuho announced on May 18 a plan to merge Mizuho Corporate Bank and Mizuho Bank and replaced its management. Sato, who moved from President of Mizuho Corporate Bank to Group CEO in June, acknowledged at his inaugural press conference that personnel decisions balancing the three former banks had caused harm.
Initiatives
In July 2013 Mizuho Corporate Bank absorbed Mizuho Bank as the surviving company in a merger, ending the structure, in place since the group's founding, of separate banks for individuals and corporations. He also abolished the three-top structure of executives from the three former banks, centralizing decision-making in the Group CEO. In June 2014 the group moved to a company-with-committees structure. In November 2017 it announced a structural reform plan to cut about 19,000 staff and about 100 locations, and pressed ahead with building MINORI, a new platform to replace the three former banks' core systems.
Career
Career
Mizuho Bank
| Date | Position |
|---|---|
| Mar 2003 | Executive Officer, Mizuho Corporate Bank |
| Apr 2004 | Managing Executive Officer |
| Mar 2006 | Managing Director |
| Apr 2007 | Deputy President |
| Apr 2009 | President |
| Jul 2013 | President, Mizuho Bank |
Mizuho Financial Group
| Date | Position |
|---|---|
| Jun 2009 | Director |
| Jun 2011 | President |
| Jun 2014 | Director and Corporate Executive Officer, President |
| Apr 2018 | Stepped down as President |
| Jun 2018 | Chairman |