Wednesday, 17 July 2024
MUFG appoints Andre S. Painchaud to head internal audit in Singapore
Mitsubishi UFJ Financial Group, Inc.’s (MUFG) banking entity, The Bank of Tokyo-Mitsubishi UFJ, Ltd. has appointed Mr. Andre S. Painchaud as General Manager of Internal Audit and Credit Examination Division (Singapore) and Credit Examination Office (Singapore). Mr. Painchaud will join the bank on 8 November 2017 and will be based at MUFG’s regional headquarters in Singapore.
As head of the Internal Audit and Credit Examination, Mr. Painchaud will establish and expand the existing regional audit functions in Asia spanning East Asia, South Asia, ASEAN and Oceania locations. He will also provide an independent view of the adequacy and effectiveness of internal control systems for the bank’s operations.
On this appointment, MUFG Chief Executive Officer for Asia & Oceania Mr. Takayoshi Futae said: “We operate in a highly dynamic and regulated environment and there is a greater need for our organisation to maintain a compliant culture that is aligned with our values and business ambition without compromising on the integrity of the bank as it achieves results. It is therefore an opportune time to welcome Andre on board. His experience with global financial institutions in Asia Pacific will help provide an independent and objective assessment of how the bank should respond to emerging risks and proposed developments.”
The appointment of Mr. Painchaud is part of the bank’s ongoing efforts of leveraging senior and international banking talents to spur the growth of MUFG’s businesses in this region.
Prior to joining the bank, Mr. Painchaud was the Audit Director, Quality Assurance for Institutional Clients Group at Citibank Singapore. He spent five years with Daiwa Capital Markets, from November 2008 to June 2013, as Managing Director & Head of Internal Audit for Asia region. During his tenure there, he established an Asian Oceania Internal Audit department that supported the business in nine locations.
Mr. Painchaud started his career as a Securities Compliance Examiner in Boston, USA in 1995. He spent close to seven years with the United States Securities and Exchange Commission, from July 1995 to April 2002, conducting audits of investment companies and investment advisers to ensure compliance with the Investment Advisers Act and the Investment Company Act in the US. He joined Lehman Brothers Asia in May 2002, first with the office based in Tokyo, then moving to Hong Kong office in 2005 and to Singapore in 2008.
Mr. Painchaud has a Bachelor of Science from Salem State College in Salem Massachusetts, USA, in 1993. He obtained his MBA from Bentley College, Waltham, Massachusetts, USA with concentration in Finance in 1994.
Re-disseminated by The Asian Banker
