Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Banking Corporation

 

 

Organizational Revision of SMFG and SMBC

 

 

TOKYO, March 27, 2012 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President: Koichi Miyata) and Sumitomo Mitsui Banking Corporation (SMBC, President: Takeshi Kunibe) announced today a revision of their organizational structures effective April 2, 2012.

 

The organizational structures of SMFG and SMBC will be revised to enhance the SMFG/SMBC group’s planning and marketing functions, aiming to facilitate the achievement of targets of the medium-term management plan announced last year, and also to further strengthen our internal control framework.

 

The specifics are as follows.

 

 

1.                   Strengthening the strategic business areas of medium-term management plan

 

1.1.       Transaction business

(1)     Establishment of Transaction Business Planning ブックメーカーサッカー as an independent ブックメーカーサッカー - Strengthening of planning function (SMFG & SMBC)

Transaction Business Planning ブックメーカーサッカー was established within SMFG’sandSMBC’s Corporate Planning ブックメーカーサッカー last October to devise long-term, integrated transaction business strategies for the SMFG/SMBC group. It will become an independent ブックメーカーサッカー in order to further enhance its business planning function, as well as to strengthen its capability to manage settlement risk.

(2)     Establishment of Transaction Business Division - Integration and strengthening of marketing functions targeting corporate clients (SMBC)

A newTransaction Business Division will be established with Electronic Commerce Banking ブックメーカーサッカー, Global Advisory ブックメーカーサッカー, and Asset Finance ブックメーカーサッカー transferred to within this division. The new divison will straddle three marketing units, International Banking Unit, Middle Market Banking Unit and Corporate Banking Unit in order to strengthen collaboration between departments accommodating the transaction services needs of corporate clients, including supply chain financing, for flexibly and quickly offering products and services in a more integrated manner.

(3)     Strengthening of planning and management framework of consumer finance and transaction services for individuals (SMFG ＆SMBC)

Card Business ブックメーカーサッカー of SMFG will be renamed Consumer Finance & Transaction Business ブックメーカーサッカー and its functions will be strengthened to further enhance transaction services business and consumer finance business for individuals on a group basis by centralizing the management function of group companies engaged in these businesses. A new Consumer Finance & Transaction Business ブックメーカーサッカー will be established within SMBC.

Group companies supervised by these departments will include Promise ブックメーカーサッカー., Ltd. which will become a wholly-owned subsidiary of SMFG in April 2012, and SMBC Finance Service ブックメーカーサッカー. Ltd. which will become a wholly-owned subsidiary of Cedyna Financial Corporation in order to strengthen collection outsourcing services.

 

1.2.       Financial consulting for individuals – Restructuring of Consumer Banking Unit (SMBC)

(1)    Establishment of Wealth Management ブックメーカーサッカー - Strengthening of financial consulting for individuals

A newWealth Management ブックメーカーサッカー will be established within Financial Consulting ブックメーカーサッカー to further strengthen our consulting capabilities and better accommodate the diversifying financial needs of individuals. Front-office support functions for wealth management, succession issues of business owners and land owners, and other financial consulting services will be consolidated into this ブックメーカーサッカー. Further, we will abolish Personal Product Development and merge it into Financial Consulting ブックメーカーサッカー.

(2)    Strengthening of cross-selling

Mass Retail ブックメーカーサッカー and Consumer Loan ブックメーカーサッカー will be merged to form a new Retail Business ブックメーカーサッカー with a newConsumer Loan ブックメーカーサッカー established within to strengthen the marketing function for individuals, including housing loans, in order to capture opportunities for cross-selling products and services created by individuals’ important life events. Further, we will abolish Marketing ブックメーカーサッカー and merge it into Planning ブックメーカーサッカー.

 

1.3.       Solution providing for corporate clients - Restructuring of Investment Banking Unit (SMBC)

(1)     Strengthening of marketing functions in Japan

① Establishment of Project & Export Finance ブックメーカーサッカー

Overseas financing needs for businesses related to natural resources and infrastructures are growing significantly and to more effectively accommodate such needs, project and export finance business will be separated from Structured Finance ブックメーカーサッカー and a new Project & Export Finance ブックメーカーサッカー will be established to manage the business. In addition, with the aim of further enhancing our capability to capture and support projects in environmental, natural resources, water and new energy industries, which are expected to show high growth, the internal project team for these industries and Environmental Project ブックメーカーサッカー will be consolidated into a new Growth Industry Cluster ブックメーカーサッカー established within Project & Export Finance ブックメーカーサッカー.

② Establishment of Financial Solution ブックメーカーサッカー

Funding needs of corporate clients are diversifying and becoming more sophisticated, and to more effectively accommodate such needs from the planning stage, functions of Syndication ブックメーカーサッカー and Global Securities Business ブックメーカーサッカー will be strengthened, and also a new Financial Solution ブックメーカーサッカー will be established to deliver tailor-made solutions for highly complex deals involving other departments within the unit.  

(2)     Establishment of Investment Banking ブックメーカーサッカー, Asia - Strengthening of marketing functions in Asia

Emerging markets, Asia in particular, are expected to continue to show high growth, and to accommodate the various needs of corporate clients in Asia more effectively and in a more integrated manner, functions of Financial Products Marketing ブックメーカーサッカー, Debt Capital Markets ブックメーカーサッカー and Structured Finance ブックメーカーサッカー in Asia will be consolidated into a new Investment Banking ブックメーカーサッカー, Asia and a newFinancial Solution ブックメーカーサッカー, Asia that will be established within Investment Banking ブックメーカーサッカー, Asia.

 

 

2.                   More effective and efficient internal control framework (SMBC)

2.1.       Operational risk management

Operational Risk Management ブックメーカーサッカー will be abolished and merged into Corporate Risk Management ブックメーカーサッカー to ensure a more integrated management of risks.

 

2.2.       Compliance management

Antimonopoly Law Monitoring ブックメーカーサッカー and Financial Products Compliance ブックメーカーサッカー established within General Affairs ブックメーカーサッカー will be merged into Financial Products Compliance ブックメーカーサッカー to strengthen and consolidate compliance functions related to corporate clients. 

 

2.3.       IT planning and management framework

IT Planning ブックメーカーサッカー and IT Business Strategy Planning ブックメーカーサッカー will be merged into a new IT Planning ブックメーカーサッカーwith a newIT Business Strategy Planning ブックメーカーサッカーand a newConsolidated Data Management ブックメーカーサッカー established within. By centralizing and consolidating the planning and management functions of IT systems, we aim to strengthen the functions for supporting the IT planning of marketing units and more effectively utilizing our IT system specialists. The new Consolidated Data Management ブックメーカーサッカー will plan and promote the integration and utilization of various data so that they can be used more effectively on a corporate-wide basis.

 

2.4.       CRE management framework

A newCorporate Real Estate Management ブックメーカーサッカー will be established within Administrative Services ブックメーカーサッカー to further pursue the efficiency of real estate management, and to reduce real estate related costs on a group-wide basis.