SMBC, a member of SMBC Group, announced Hirofumi (Hiro) Otsuka will assume the positions of Chief Executive Officer of SMBC Americas Division and President and CEO of SMBC Americas Holdings, Inc. (SMBCAH) from Hiro Hyakutome, who served in these roles since April 2019.
Hyakutome’s new assignment is Senior Managing Executive Officer and Group Chief Compliance Officer for SMBC Group in Tokyo. In his new role, he will oversee the matters related to compliance globally. Otsuka is proposed to be elected as a member of the Board of Directors of SMBCAH and will be based in New York.
“We are delighted that Mr. Otsuka will join us to lead the organization,” said Reuben Jeffery III, Chairman of the Board of Directors of SMBCAH. “Mr. Otsuka brings a wealth of experience to the Americas from his 32 years at SMBC in various senior-level staff and line capacities, including a decade in the Americas. His extensive knowledge of our business will help ensure the continuity of our planned and ongoing transformation and growth initiatives.”
Jeffery added, “On behalf of the Board of Directors, I would like to congratulate Mr. Hyakutome on his new global responsibilities and thank him for his extraordinary vision and leadership in the Americas over three years. I also congratulate Mr. Otsuka as we strive to realize even greater promise and opportunity in the Americas.”
Otsuka was a Managing Executive Officer and General Manager, Global Banking Unit for SMBC, and General Manager, Global Business Unit for Sumitomo Mitsui Financial Group (SMFG) from April 2020 to April 2022. In this capacity, he oversaw groupwide global business development outside Japan.
Otsuka began his career at SMBC in 1990. Earlier in his career, he had assignments in HR and Corporate Research. He gained extensive experience in structured and project finance through his various positions at the company, including those roles covering real estate, public- private partnerships, leasing, energy and natural resources, and emerging markets. In recent years, his focus has been on business planning and strategies for the entire organization.
Prior to his assignment as General Manager, Global Banking Unit for SMBC and Global Business Unit for SMFG, Otsuka was Executive Officer and General Manager of the Asia Business Strategic Planning Department from April 2019 to April 2020. He has led SMBC/SMFG’s long-term business strategy and development, including mergers and acquisitions of financial institutions in key Asian markets, such as Indonesia, India, the Philippines and Vietnam.
Otsuka spent more than a decade of his career in the Americas, from 2004 to 2014. He was instrumental in establishing the Houston Office in 2006, building the project finance and Latin America businesses in 2007, and held key senior management positions during his tenure in the Americas, including as Chief Representative of the Houston Office, Executive Vice President of SMBC Leasing & Finance, and Managing Director and Co-Head of the Specialized Finance Department.
Otsuka earned a Bachelor of Engineering (B.E.) degree with a focus on civil engineering from The University of Tokyo.
SMBC Appoints Freer as Chief Operating Officer
SMBC also announced the appointment of Debbie Freer as Chief Operating Officer (COO) for the Americas.
Otsuka, CEO of SMBC Group in the Americas and President & CEO of SMBC Americas Holdings, Inc., said, “Debbie’s appointment as COO is a natural fit as she has spearheaded the successful transformation of our business in the Americas Division in addition to championing our diversity and inclusion initiatives. I am confident she will continue to lead our growth plans for SMBC in the region as well as ensure a relentless focus on our diversity efforts.”
Freer commented, “As COO, I hope to push us further on our journey to become a leading corporate and investment bank and to make our mark here in the Americas, with growth, teamwork, and client success. This firm has a rich history and culture that lends itself to deep and meaningful relationships with our clients, and I look forward to building our brand in the region.”
Freer joined SMBC in April 2019 as Chief Strategy Officer and Head of the Strategy & Transformation Department, where she led the establishment of a bank holding company structure and strategic plan, implemented through a transformation program with robust governance and projects spanning the organization’s three lines of defense.
Before joining SMBC, Freer was Global Head of Custody & Fund Services Product Development & Transformation at JPMorgan Chase. Prior positions included senior leadership roles at UBS, RBC, Citibank and Merrill Lynch.
In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.