Top bank post first outside Tokyo

Press, 6 September 1989, Page 42

Top bank post first outside Tokyo

The Yasuda Trust and Banking Company has stationed a managing director, Mr Tohru Yamasawa, in Hong Kong. This is the first time that a Japanese bank has assigned a top executive to a location in the region other than Tokyo. In making the announcement, Mr Fujio Takayama, president of Yasuda Trust, said, “This is an indication Of Yasuda Trust’s belief that other countries and markets of the region are reaching a level of financial development and complexity that requires the commitment of senior managment attention.

“In view of our long involvement in the region, we have concluded that it is desirable to have a senior executive in day-to-day contact with cus : tomers and financial developments on a regional basis.

“Asia is one of the most diverse markets in the world, both commercially and financially. The rapid growth and integration of the markets of the region requires the direct involvement of a member of our senior management

team, such as Mr Yamasawa. “Mr Yamasawa will be leading our business development activities throughout the AsiaPacific area. Most important, we are looking to develop an equity investment programme in which we will be working together with Asian partners to participate in the growth of this dynamic region.

“As one of Japan’s largest institutional investors,

we anticipate increased holdings of securities in other Asian countries. We are convinced that these markets will continue to open and mature and are confident that information gained as we strengthen our organisation in the region will support our portfolio investment activites,” Mr Takayama said.

Yasuda Trust has a long history in the Asia-Pacific region. Of the banks’ 25 overseas offices, 11 are located in this region. They include two branches, six representative offices and three subsidiaries. Mr Yamasawa brings strong qualifications to his new position. As general manager of the international planning department, his responsibilities included overseeing Yasuda Trust’s investment in the region. He has extensive experience in international banking, extending back to his post as deputy general manager of the London branch when it opened in 1975. The Yasuda Trust and Banking Company was founded in 1925 and today ranks among the world’s top 25 banks.