Japan’s MUFG Appoints Kobayashi as CEO of Securities Unit

(Bloomberg) — Mitsubishi UFJ Financial Group Inc. appointed Makoto Kobayashi as president and chief executive officer of its securities arm, replacing Saburo Araki.

The personnel changes also include Takashi Nagaoka stepping down as chairman and being replaced by Araki, according to a statement Friday. They take effect from April 1. 

(Updates with confirmation of personnel changes from company)

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