Tuesday, 16 July 2024
MUFG Bank appoints new deputy president for China
MUFG Bank has appointed Benjamin Lam as deputy president of MUFG Bank China. Lam will concurrently lead the global corporate and investment banking (GCIB), China, and the global corporate banking (China) division.
Lam joined MUFG Bank China in September 2023, and is responsible for the growth of MUFG China's non-Japanese corporate and investment banking businesses, covering local and global corporates, Chinese state-owned enterprises as well as financial institutional clients.
Based in Shanghai, Lam reports to Yoshiki Hasegawa, president of MUFG Bank China and Tony Lee, MUFG’s head of global corporate and investment banking for East Asia.
As the world’s second-largest economy, China plays a crucial part in MUFG’s global network and growth strategy in Asia. The bank’s presence in the country dates back over 60 years and it was incorporated as a local subsidiary of MUFG in 2007. With a branch network spanning 14 cities, MUFG Bank China is fast establishing itself as a provider of the best financial solutions to its clients.
Hasegawa said: “Asia is the second core growth market for MUFG Bank, and this region which includes China contributed more than 50% in net operating profit towards MUFG Bank in FY2023. In the next three-year plan for MUFG Bank, Asia has been identified as the “only geographical strategic pillar” for growth. We plan to concentrate on our core competencies, especially in China, and review our business promotion structure to ensure a unique proposition for the bank and to our clients here."
He added: "Benjamin joins us less than a year and in the short period, he has made great strides in transforming and strengthening the team with a strong sense of responsibility and excellent leadership. Our business here in China remains highly competitive, especially in a tough market environment. With Benjamin’s conviction and his commitment to deepening the cooperation with MUFG’s global network, I do believe we can realise the bank's foothold in China and become a strategic link between Asia and the world."
"With Benjamin’s new appointment as the deputy president, he will help with the alignment of our businesses across functions, especially the global corporate domain under his supervision,” Hasegawa said.
A veteran banker, Lam has over 30 years of experience spanning retail banking, corporate banking and transaction banking. Before joining MUFG, he served over 10 years in several senior positions at JPMorgan Chase Bank China, including as deputy president, head for AML, head of trade China and head of trade sales Greater China.
Re-disseminated by The Asian Banker
