Deutsche Securities Inc. (DSI), appoints Norimichi Kanari as Chairman of the company, effective 1 October 2008. Kanari joins DSI after a distinguished 38-year career with The Bank of Tokyo-Mitsubishi UFJ, Ltd., most recently as Deputy President and Chief Executive of the Global Business Unit, and succeeds Toru Hashimoto who will retire after serving as Chairman since 1 July 2003.
Kanari is one of Japan’s most senior international banking figures, a reputation he established through his appointment in 1997 as a Director of the then Bank of Tokyo-Mitsubishi, Ltd. and as General Manager of its New York Branch. His international banking credentials extended through his role at UnionBanCal Corporation and Union Bank of California, N.A. where he was President and Chief Executive Officer between July 2001 and May 2005. It was following this latter role, that Kanari was appointed as Deputy President and Chief Executive of the Global Business Unit and, in February 2007, as Chairman of the Board of UnionBanCal Corporation and Union Bank of California, N.A. In addition, Kanari has held a number of complementary posts such as his membership on a number of national Economic Committees within Keidanren (Japan Business Federation) and as a member of the Capital Markets Consultative Group of the International Monetary Fund, amongst others.
Hashimoto will continue to offer his unique financial and corporate experience in providing insights into the future development of businesses in Japan and regionally through his role on the Deutsche Bank Group Asia-Pacific Advisory Board, formed in February 2008.
“I am very pleased to welcome Kanari as Chairman. Japan is an integral market to Deutsche Bank Group’s global strategy and the ongoing development of key client relationships at the most senior levels is as crucial as ever in these times,” says Jrgen Fitschen, member of the group executive committee and the Bank’s global head of regional management. “Kanari is exceptionally well qualified to further enhance our business in Japan and to build on the legacy of Hashimoto’s achievements. We are most grateful to Hashimoto and delighted that he maintains his advisory role with us.”
“As one of the nation’s most senior and international bankers, I am very proud that Kanari has chosen to work with Deutsche Bank Group,” says David Hatt, president & CEO of DSI. “His exceptional experience and qualifications will be invaluable in serving our clients’ needs and in the development of our business.”