Organizational Revision of SMBC(1/1)
Sumitomo
Mitsui Banking Corporation
Organizational Revision of SMBC
The objectives
of the organizational revision are to further fortify risk management, credit
control and other functions, and improve the efficiency of business promotion framework
in order to respond quickly and appropriately to changes in the increasingly
uncertain business environment.
Specifics
of the organizational revision are as follows:
1. Fortification
of Headquarters Functions
(1) Establishment
of Risk Management Unit
A new Risk Management Unit will be
established to manage various risks in a more integrated manner amid the
current business uncertainty. The risk management framework will be
strengthened by consolidating the functions for managing major risks for
financial institutions – market, liquidity, credit and operational risk – into
the Risk Management Unit and enhancing our across-the-board risk monitoring
ability.
Specifically, a director will be assigned to oversee
the Risk Management Unit comprising the Corporate Risk Management Dept. and
Credit & Investment Planning Dept. The Corporate Risk Management Dept. will
be the unit’s planning department and the Operational Risk Management Dept.,
which is currently within the General Affairs Dept., will become a department
within the Corporate Risk Management Dept.
(2) Reorganization
of functions within Internal Audit Unit
The functions within the Internal Audit Unit will be
reorganized and the functions related to auditing the risk management framework
will be consolidated into the Internal Audit Dept. in order to enhance our ability
to deal with multiple risks including credit risk. Accordingly, the Internal
Audit Planning Dept. within the Internal Audit Dept. will be dissolved.
(3) Enhancement
of IT planning support functions
A new IT Business Promotion Dept. will be
established within the Corporate Staff Unit in order to strengthen IT planning support
and staff training.
2. Fortification
of Business Units’ Functions
(1)
Reorganization and fortification of business promotion supporting and other functions
(i) Reviewing of business promotion system for corporations
In order to
realize more in-depth support for our corporate customers, a new Business
Promotion & Solution Dept. will be established, into which the Middle
Market Solution Dept. within the Planning Dept., Corporate Banking Unit &
Middle Market Banking Unit will be merged and the functions of business
promotion and support for middle market customers that are currently carried
out by the Planning Dept., Corporate Banking Unit & Middle Market Banking
Unit and Small and Medium Enterprises Marketing Dept. will be consolidated.
A new Credit
Business Dept. within the Credit Administration Dept. will also be
established in connection with the partial restructuring of the front-office
structure of the Corporate Business Offices of the Middle Market Banking Unit.
(ii)
Integration of International Business Promotion Dept. into Global Advisory
Dept.
The International Business Promotion Dept. will be
integrated into the Global Advisory Dept. in order to enhance the efficiency
of our business operations and strengthen our ability to support our business
promotion channels and customers’ overseas businesses.
(iii) Merger
of Succession Business Dept. and Private Banking Dept.
The Succession Business Dept. and Private Banking
Dept. will be merged into a new Private Advisory Business Dept. in order
to enhance our ability to respond to the needs of individuals and corporate
customers when they overlap, such as the needs of business owners.
(2) Reorganization
of Consumer Banking Unit
A new Consumer Compliance Dept. will be
established within the Planning Dept., of the Consumer Banking Unit in order to
enhance the functions related to customer satisfaction and consumer compliance.
(3) Reorganization
of Investment Banking Unit
(i) Integration of Investment Development Dept. into Merchant
Banking Dept.
The Investment Development Dept. will be integrated into
the Merchant Banking Dept. in order to consolidate fund investment resources
and know-how and enhance expertise in order to quickly and proactively respond to
changes in the market environment.
(ii)
Enhancement of Trust Services
The Trust Services Dept. within the Corporate
Services Unit will become a department within the Investment Banking Unit, and the
Stock Execution Dept. within the Private Banking Dept. will become a department
within the Trust Services Dept. in order to further improve the quality of our
trust products and services.
(iii) Enhancement of R&D Dept. Functions
The asset management related functions of the
Investment Banking Unit will be consolidated into the R&D Dept., a
department within the Planning Dept. of the Investment Banking Unit, and renamed
“Strategic Products Dept.” in order to enhance our ability to develop
and offer investment management products.
(4) Revision
of International Banking Unit
The functions of the Credit Management Dept. will be
strengthened and the Environment Analysis Dept. within the Credit Dept. will
become a department within the Credit Management Dept. in order to enhance our credit
risk management on a global basis. Accordingly, the Credit Dept. will be
renamed “
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