In a bid to accelerate business development in focal areas and further strengthen internal control, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation have announced plans to revise the organizational structures of both companies.
As part of the revision, Sumitomo Mitsui Financial Group (SMFG) will establish a group CS committee in order to further improve customer satisfaction on a group basis.
The new organizational structure is expected to help Sumitomo Mitsui Banking Corporation (SMBC) better meet the needs of corporate and individual customers, including business owners and employees of corporate customers.
In relation to internal control, this strategy will further strengthen the overseas compliance system, including anti-money laundering measures, the companies said.
Other modifications include the establishment of a private advisory department, a financial consulting R&D department and a public and financial institutions banking department.
Furthermore, SMBC will also establish a merchant banking department, a securities direct sales department, and revise the role of the global investors services department.