Sumitomo Bank of California said it had promoted chief operating officer Tomoyuki Kato to succeed president and chief executive officer Tsuneo Onda.

Mr. Onda became chairman of the $4.9 billion-asset unit.

Mr. Kato will manage the integration of the Sumitomo with Zions Bancorp. of Salt Lake City, which agreed to buy the Japanese bank subsidiary last month.

The $546 million deal is scheduled to close in the third quarter.

The U.S. unit of Osaka, Japan-based Sumitomo Bank Ltd. went up for sale in December. The parent company has been mired in Japan's banking and economic woes. - Olaf de Senerpont Domis

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