TOKYO - Citigroup Inc. (NYSE: C) said Friday it tapped Tatsuo Tanaka, deputy president of Mitsubishi UFJ Financial Group Inc., as chairman of Citigroup Japan Holdings.
The appointment, effective July 1, fills the last spot in its senior management for the Tokyo operations of Citigroup as part of a reshuffle. The bank has tried to bring in more Japanese veteran executives with deep knowledge of the local banking business in an attempt to reassure regulators frustrated with its sloppy internal controls.
Tanaka has led MUFG's overseas operations for several years and also has worked in the U.S. and Hong Kong.
Citi also said Masatsugu Nagato, who has been serving as Citibank Japan Ltd. chairman on an interim basis since January, will assume that role on a permanent basis starting June 1. Nagato previously worked for the Industrial Bank of Japan and Mizuho Corporate Bank over 34 years.
