Bank of Tokyo-Mitsubishi Promotes Chafetz

Bank of Tokyo Mitsubishi-UFJ Ltd. promoted Randall Chafetz, its Americas corporate and investment banking head, to an executive officer position at Japan's largest bank as part of the firm's push to boost its global market share over the next few years.

BTMU, a unit of Mitsubishi UFJ Financial Group Inc. (8306.TO, MTU), said Mr. Chafetz, who has dual U.S. and Canadian citizenship, is the bank's first non-Japanese executive officer in the more than 400-year history of the firm, according to a spokeswoman.

In his new role, effective immediately, Mr. Chafetz, 54, will lead the bank's corporate and investment banking business outside of Japan and will also head its non-Japanese corporate banking business.

Under his leadership, BTMU, in the U.S., has climbed data provider Dealogic's ranking of banks by core investment banking revenue--including mergers and acquisitions, and equity and debt underwriting. The firm has moved to 25th year-to-date, with $70.5 million in projected revenue, up from a ranking of 29th, with $104 million in revenue, for all of 2012.

In a statement, Takashi Morimura, deputy president of BTMU and chief executive of the global business unit, said Mr. Chafetz has "helped lead BTMU in the Americas to unprecedented levels of success, expanding the business significantly."

Mr. Chafetz, who is based in Tokyo, will report to Mr. Morimura, and Takahiro Yanai, managing executive officer.

To fill his former role, BTMU said Mr. Chafetz will be replaced by two executives. Kevin Cronin will be head of U.S. corporate banking, while Johannes Worsoe will be head of investment banking and markets.

Prior to rejoining BTMU in 2008, Mr. Chafetz was chief operating officer of Mitsubishi UFJ Securities (USA), Inc, the firm's broker-dealer unit. He previously led both investment banking and capital markets for that business, after originally joining BTMU in 1998. That move followed stints for Mr. Chafetz at UBS AG (UBS, UBSN.VX) and Credit Suisse Group AG (CS, CSGN.VX).

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