The Japanese lender, who is gearing up to save nearly $1bn through cost reduction, is currently on a spree of cuts in its overseas operations, as reported by Reuters.
Referring to an internal memo, the news agency said that Vereker’s new role would be vice-chairman of investment banking.
Kentaro Okuda, who was the joint head with Vereker, has been appointed to serve as the sole head of global investment banking, the memo added.
Meanwhile, James DeNaut and Charles Pitts-Tucker have been appointed to assume the role of joint international heads of investment banking, and will report to Okuda.
