Organizational Revision of SMBC(1/1)
Sumitomo Mitsui Banking Corporation
Organizational Revision of SMBC
Specifics of the organizational revision are as follows:
1. Enhancement of Initiatives
(1) Reorganization to
reinforce businesses in
Specifically, a director will be assigned to oversee SMBCCN. Further, its functions related to business with Japanese corporate customers, including planning and management, will be transferred to Planning Dept., Corporate Banking Unit & Middle Market Banking Unit in order to facilitate support for these customers in a globally integrated manner.
(2) Establishment of Financial Products Marketing Dept.
Financial Products Marketing Dept. will be newly established (please see gNoteh below), integrating certain functions of Investment Banking Unit in Australia and Asia, in order to respond more quickly and flexibly to the diversified and sophisticated needs of corporate customers.
Specifically, the department will provide optimal solutions for customer needs more rapidly by delivering a wide range of investment banking products, such as securitization of receivables and derivatives, in an integrated manner.
(Note) Financial Products Marketing Dept. is scheduled to be established at the beginning of May 2010.
2. Fortification of Other Functions and Improvement of Efficiency
(1) Merger of Financial Engineering Dept. and Securities Marketing Dept.
Financial Engineering Dept. and Securities Marketing Dept. will be merged into a new Financial Engineering Dept. in order to strengthen the ability to develop and promote investment products for corporate customers while improving operational efficiency.
(2) Dissolution of REIT Investment Dept.
REIT Investment Dept., currently a department within Real Estate Finance Dept., will be dissolved and the business related to investment in listed REITs will be consolidated into Merchant Banking Dept.
(3) Establishment of Small Enterprises Credit Portfolio Administration Dept.
Small Enterprises Credit Portfolio Administration Dept. will be established within Small and Medium Enterprises Marketing Dept. in order to conduct more sophisticated credit risk management of small and medium sized enterprises while facilitating finance to such customers.