Unionbancal (NYSE:UB)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Unionbancal Charts. Click Here for more Unionbancal Charts.](/p.php?pid=staticchart&s=NY%5EUB&p=8&t=15)
UnionBanCal Corporation (NYSE:UB) today announced that the Board of
Directors approved the appointment of Masaaki Tanaka as President and
Chief Executive Officer of UnionBanCal Corporation and its principal
subsidiary, Union Bank of California, N.A., effective May 24, 2007.
Tanaka, 53, is an Executive Officer of The Bank of Tokyo-Mitsubishi UFJ,
Ltd. (BTMU), UnionBanCal’s majority
stockholder. He has served as BTMU’s General
Manager, Corporate Planning Division, since January 2006. Prior to that,
from May 2004 to January 2006, he served as General Manager of several
BTMU corporate banking groups and business development divisions.
Tanaka’s experience in the United States dates
to 1984 and includes assignments at The Bank of California, a
predecessor of Union Bank of California, and as a manager of BTMU’s
North American Planning Division in New York City. Tanaka began his
banking career with Mitsubishi Bank, Ltd., a predecessor to BTMU, upon
gradation from the University of Tokyo in 1977. He has an LLM degree
from the University of Michigan Law School.
Tanaka succeeds Takashi Morimura, who has served as President and Chief
Executive Officer of UnionBanCal and Union Bank since May 2005.
Morimura, a managing executive officer of BTMU, is returning to BTMU
headquarters in Tokyo for a new assignment.
The UnionBanCal board of directors also elected Norimichi Kanari to
succeed Tetsuo Shimura as Chairman of the Board, effective immediately.
Shimura is also returning to Japan. Kanari served as President and CEO
of UnionBanCal from July 2001 to May 2005. He has served as Deputy
President of BTMU, his current position, since 2005. Kanari has served
as a director of UnionBanCal since July 2000.
“We are pleased to welcome Mr. Tanaka and Mr.
Kanari back to Union Bank,” said Morimura. “I
am very confident in Masaaki’s ability to lead
this company. I also have great confidence in the other members of the
executive management team – Philip Flynn, Vice
Chairman and Chief Operating Officer; David Matson, Vice Chairman and
Chief Financial Officer; and Masashi Oka, Vice Chairman, Administration
and Support Group. I expect that this executive management team will
keep the company well-positioned competitively and financially to
achieve long-term shareholder value as we go forward.”
Morimura added, “I have been honored to serve
as CEO of this great company, and I express my deep appreciation to our
customers, employees, and Board of Directors.”
Based in San Francisco, UnionBanCal Corporation is a bank holding
company with assets of $52.6 billion at December 31, 2006. Its principal
subsidiary, Union Bank of California, N.A. had 321 banking offices in
California, Oregon and Washington, and 2 international offices at
December 31, 2006.