May 24, 2017 / 7:12 AM / 8 months ago

Japan's MUFG says head of its core banking unit will step down

TOKYO, May 24 (Reuters) - Mitsubishi UFJ Financial Group Inc on Wednesday said Takashi Oyamada, chief executive of core banking unit Bank of Tokyo-Mitsubishi UFJ (BTMU), would step down on June 14.

Japan’s largest lender by assets named BTMU Deputy President Kanetsugu Mike as Oyamada’s successor. It did not give a reason for the change.

Sources told Reuters on Tuesday that Oyamada was stepping down for health reasons, barely a year after assuming the role.

Reporting by Taiga Uranaka; Editing by Chris Gallagher

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