SMBC Opens Representative Office in Washington D.C. as Growth in U.S. Deepens

Rhea-AI Summary

Sumitomo Mitsui Banking Corporation (SMBC) has announced the opening of a representative office in Washington, D.C. to strengthen its ties with key stakeholders in the U.S. capital. The bank has also made key hires, including Randy Ross as Head of Government Affairs and Public Policy, and Althea Pieters as Head of Regulatory Strategy. The office will be operational in October 2023.

Bank Adds Veteran Banking Policy Experts to Lead New Office

NEW YORK--(BUSINESS WIRE)-- Sumitomo Mitsui Banking Corporation (SMBC), a member of SMBC Group, today announced the opening of a representative office in Washington, D.C. to deepen ties with key stakeholders in the nation’s capital as the bank continues to expand its support of the U.S. economy.

The debut of the bank’s representative office coincides with recent key hires, including Randy Ross as Head of Government Affairs and Public Policy, and Althea Pieters as Head of Regulatory Strategy. Mr. Ross and Ms. Pieters bring years of experience both in government and in representing the financial services sector to strengthen SMBC’s relationships with regulators, industry groups, and lawmakers.

“Today, we are excited to mark the continued expansion of our U.S. operations by announcing the opening of our Washington D.C. Office and a best-in-class team to run it,” said Hiro Otsuka, Chief Executive Officer of SMBC Americas Division and President and CEO of SMBC Americas Holdings, Inc. “As one of the largest foreign banks in the United States, it is crucial for us to maintain our focus on the evolving regulatory and public policy environment with a team on the ground.”

Prior to joining SMBC, Mr. Ross was Head of U.S. Public Policy for Credit Suisse, where he led the firm’s Washington D.C. Office. Before that, he managed Nomura’s Washington D.C. operations and served as the Financial Services Committee Designee and Legislative Director to U.S. Congressman Gary Miller.

Ms. Pieters previously served as the Head of U.S. Regulatory Policy at Credit Suisse. Before that, she held several key roles at the Board of Governors of the Federal Reserve System and as a Foreign Banking Expert for the European Central Bank.

Mr. Ross and Ms. Pieters, both Managing Directors, will be joined in SMBC’s D.C. Office by Kazuhiro Yoshimi, Executive Director, Government and Regulatory Affairs, and Kevin Parker, Vice President, Government and Regulatory Affairs. The D.C. Office will be fully operational in October 2023.

About SMBC Group 
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges.

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. For more information, please visit www.smbcgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025688475/en/

Media

Drew Benson

drew.benson@smbcgroup.com

Source: Sumitomo Mitsui Banking Corporation

What is the purpose of SMBC's representative office in Washington, D.C.?

The purpose of SMBC's representative office in Washington, D.C. is to deepen ties with key stakeholders in the nation's capital and expand its support of the U.S. economy.

Who are the key hires at SMBC?

The key hires at SMBC are Randy Ross as Head of Government Affairs and Public Policy, and Althea Pieters as Head of Regulatory Strategy.

When will SMBC's D.C. Office be fully operational?

SMBC's D.C. Office will be fully operational in October 2023.