The Japanese card issuer and acquirer JCB Co. Ltd. said Tuesday that it has named Takao Kawanishi as its president and chief executive.

Kawanishi, who has been an adviser to JCB since May, succeeded Tamio Takakura, who had been president and CEO for three years and remains the company's chairman. He has also been named vice chairman of the JCB subsidiary JCB International Co. Ltd. He was deputy president of Bank of Tokyo-Mitsubishi UFJ Ltd. from April 2008 and has spent 38 years in banking.

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