BTMU said the planned virtual holding company will integrate its wholly owned subsidiary units, Headquarters for the Americas (HQA) and Union Bank (UB).
The Japanese bank said the move is designed to strengthen its governance structure in the increasingly important US market.
The bank also added that substantial changes in the business landscape have also contributed to its decision, including the recent financial crisis, changes in the regulatory environment including the Dodd-Frank Act, and intensified global competition.
In the newly governance structure an executive with jurisdiction over HQA and UB, will serve as CEO for the Americas (CEOA).
The establishment of an advisory board as a body primarily consisting of external experts and professionals. The board will provide strategic guidance related to overall US operations and to optimize business initiatives in the US.
The formation of a US Holdings Division as a unit under the direct supervision of the CEOA.
The establishment of a U.S. Management Committee as a committee consisting of the CEOA and senior executives of HQA and UB. The committee will deliberate on issues related to overall US.
Operations.
BTMU said the members of U.S. Advisory Board shall include external experts and professionals who have profound knowledge in financial regulations, legal requirements, finance, governance, and other appropriate subjects. Professional advice from experienced external experts will be used to enhance our US operations.
