President, CEO of Union Bank to Be Reassigned

Union Bank said its president and chief executive, Taisuke Shimizu, will leave both positions effective June 16.

A company spokesman said Shimizu, 57, will be reassigned to a still undetermined position at Bank of Tokyo, the parent of Union Bank.

In a press release, San Francisco-based Union Bank said Shimizu will be replaced by Kanetaka Yoshida, now vice chairman and chief financial officer.

Yoshida has more than 31 years of experience with the Bank of Tokyo. From 1983 to 1990, he managed the bank’s corporate banking, securities, capital markets and foreign exchange divisions.

Yoshida, 55, will be replaced in his positions by Takahiro Moriguchi, most recently general manager of the Bank of Tokyo’s capital markets division.