Veep Maeda to Head JBIC

May 23, 2018

Tokyo- The government at a cabinet meeting Tuesday approved the promotion of Japan Bank for International Cooperation Vice President Tadashi Maeda, 60, to the post of president of the government-owned lending institution.

This will be the first time for the JBIC to have a president who has spent his whole career in the bank.

Maeda will take the helm of the bank, which supports Japanese companies' overseas expansion, after a general shareholders meeting in late June. Its current president, Akira Kondo, 73, will retire.

Joining the Export-Import Bank of Japan, the predecessor of the JBIC, in 1982, Maeda assumed various key posts, including resources finance head and management planning chief. He has been vice president since June 2016.

The cabinet of Prime Minister Shinzo Abe also gave the nod to the appointment of Development Bank of Japan Vice President Hajime Watanabe, 59, as president of the DBJ, another government-affiliated lender.

After a general shareholders meeting in late June, he will become the second dyed-in-the-wool DBJ official to head the bank, after incumbent President Masanori Yanagi, 67, who will retire.

Meanwhile, Yasushi Kinoshita, 61, another vice president of the bank and former vice finance minister, will take up the position of chairman.

Watanabe joined the DBJ in 1981 and became vice president in June 2015. Jiji Press