SAN FRANCISCO -- Taisuke Shimizu, who guided the nation's biggest Japanese-controlled bank through California's economic slump, is resigning as president, chief executive, and director of Union Bank as of June 16.

The San Francisco-based bank said Wednesday that it has nominated Kanetaka Yoshida, 55, to succeed Mr. Shimizu in the executive posts. Mr. Yoshida, a 31-year veteran of Bank of Tokyo, been vice chairman and chief financial officer of Union Bank since 1990.

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