Subsidiary Chief Oyama to Head Sumitomo Mitsui Trust Group

Tokyo, Dec. 22 (Jiji Press)–Sumitomo Mitsui Trust Group Inc. plans to promote Kazuya Oyama, 60, president of core subsidiary Sumitomo Mitsui Trust Bank, to president of the parent holding company, it has been learned. Oyama is set to succeed Toru Takakura, 63, as leader of the Japanese trust banking group. Manatomo Yoneyama, 57, senior managing executive officer of Sumitomo Mitsui Trust Bank, will become its president, informed sources said. The appointments, to be announced shortly, will take effect in spring 2026, according to the sources. Takakura will assume the post of chairman at Sumitomo Mitsui Trust Group. Sumitomo Mitsui Trust Bank Senior Managing Executive Officer Masakatsu Sato, 59, will be appointed chairman of the bank, the sources said. It will be the first time in about five years for the parent and the unit to carry out top management reshuffles. Oyama joined Sumitomo Trust and Banking Co., now Sumitomo Mitsui Trust Bank, in 1988. He became managing executive officer at Sumitomo Mitsui Trust Bank in 2019 and its president in April 2021. END [Copyright The Jiji Press, Ltd.]