News Release


Organizational Revision of SMBC(1/1)

Sumitomo Mitsui Banking Corporation

 

 

Organizational Revision of SMBC

 

TOKYO, October 1, 2007 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced a revision of organizational structures effective today. The outline of the revision is as follows.

 

(1)    Expansion of Environmental Business

 

SMBC created the Environmental Products Department within the Structured Finance Department to better meet the growing customer needs for solutions to environmental issues such as achievement of green house gas reduction target under the Kyoto Protocol.

 

The department will do business mainly on carbon credit transactions – the first department ever to be established by a Japanese bank to focus on the carbon credit business. The department will also further strengthen the collaboration among overseas offices and the headquarters to provide a wide range of solutions to our customersf environmental issues, thereby contributing to global environmental conservation.

 

 

(2)    Enhancement of Global Transaction Business

 

In order to better serve globally expanding corporate customers, SMBC decided to enhance the global CMS (Cash Management Service) business as follows. First of all, SMBC announced to setup "Global CMS Department" as a sub-department of Electronic Commerce Banking Department. Global CMS Department will be responsible for all the cash management business globally, including local cash management in SMBC's overseas branches, and also regional and global cash management products. Simultaneously, SMBC will increase the staffs in Europe, Asia and the US .

 

 

(3) Strengthening of training function at offices in Asia Pacific region

 

Training of locally hired staff who works at offices in Asia Pacific countries was originally organized by each office. However, in order to provide more systematic and massive training, Asia Pacific Training Department, International Banking Unit is established, belonging to Planning Department, International Banking Unit. Based in Tokyo and Singapore , this Training Department will further strengthen the training of staff at offices in Asia Pacific region by planning and organizing cross border training programs that helps to develop the capacity such as business promotion and management.

 

 

(4) Integration of Securities Businesses under One Department

 

In order to enhance our ability to provide securities related services, we have transferred the corporate bond related business from the Syndication Department to the Global Securities Business Department, and abolished the Corporate Finance Administration Department, a sub-department of the Syndication Department.

 




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