Sumitomo
Mitsui Financial Group, Inc.
Sumitomo Mitsui Banking Corporation
Organizational Revision of
SMFG and SMBC
TOKYO, September 29, 2008 --- Sumitomo Mitsui Financial Group, Inc. (SMFG,
President: Teisuke Kitayama) and Sumitomo Mitsui Banking Corporation (SMBC,
President: Masayuki Oku) announced today revision of organizational structures
of both companies effective October 1, 2008. The outline of the revision is as
follows.
<Organizational
Revision of SMFG>
SMFG will newly establish Card Business Department to strengthen
the cooperation within SMFG group, in accordance with the promotion of its credit
card business strategy.
<Organizational
Revision of SMBC>
SMBC will newly establish Risk Management Dept., Americas Division and Risk Management Dept., Europe Division, to further strengthen the enterprise
wide risk management, as well as the regional risk management in both Americas and Europe
divisions.