Organizational Revision of SMBC(1/1)
Sumitomo Mitsui Banking Corporation
Organizational Revision of
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 customersf 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
(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
(4) Integration of Securities Businesses under
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.