Reuters: Market News: Citibank Japan to appoint SMFG director as president -Nikkei

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Citibank Japan to appoint SMFG director as president -Nikkei Mar 27th 2012, 05:20 TOKYO, March 27 | Tue Mar 27, 2012 1:20am EDT TOKYO, March 27 (Reuters) - Citibank Japan is set to appoint Sumitimo Mitsui Financial Group Inc director Kazuya Jono as its new president, the Nikkei business daily reported on Tuesday. The Citigroup Inc unit hopes to rebuild its operations in Japan under the new 57 year-old chief, after receiving its third administrative penalty from Japan's financial watchdog at the end of last year, the paper said. Current CEO Peter Elliot will become the president of Citigroup Japan Holdings, the paper said. Citibank Japan declined to comment.

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