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Bank Danamon to get new boss following merger
Sng Seow Wah will step down as Bank Danamon president director on Oct.1.
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A Bank Danamon teller serves a customer in Jakarta. Yasushi Itagak, a senior executive at Japan’s Mitsubishi UFJ Financial Group, will take over as as Bank Danamon's new president after a Danamon shareholders meeting on Oct. 1, 2019. (Kompas/Heri Sri Kumoro)
B
ank Danamon has appointed a new president director following the completion of an operational merger between Bank Danamon and former Bank Nusantara Parahyangan (BNP).
Yasushi Itagaki will be appointed the new president director to replace Sng Seow Wah, who will step down on Oct.1. Itagaki’s appointment is subject to approval of shareholders, who will hold an extraordinary meeting on Oct. 1, the bank in a statement made available to The Jakarta Post on Tuesday.
Under Sng’s leadership, Danamon Group underwent remarkable transformation that resulted in the bank now having more diversified growth engines. He instilled in the group a more performance-oriented and cost-disciplined culture and led the organization on a digital transformation journey, all of which will put Danamon Group in good stead for future growth.
Itagaki is a seasoned banker with more than three decades of experience in corporate and investment banking. Over the past few years at Japan’s Mitsubishi UFJ Financial Group (MUFG), he designed and strategized its ASEAN commercial banking network. He played a significant role in the development of MUFG’s strategic partnerships with Bank Danamon, in addition to Krungsri in Thailand, Security Bank in the Philippines and VietinBank in Vietnam.
After joining Bank Danamon as the global alliance strategy director in 2018, Itagaki has been an invaluable catalyst for synergistic collaboration between Bank Danamon and MUFG in both business and management platform areas for future sustainable growth, Danamon said. (hen)
