Karl McEneff is to step back from day to day executive responsibilities at SuMi TRUST Global Asset Services but will remain within the organisation taking up the role of Chairman and non-Executive Director of SuMi TRUST Ireland with effect from 01 March 2015.
The new CEO will be Hiromitsu Tanaka, who brings with him a wealth of experience and knowledge developed over many years having played a prominent role within Sumitomo Mitsui Trust Bank focused on the Group's global and domestic asset servicing activities. Tanaka previously spent significant time in New York as CEO of the global custody business, Sumitomo Mitsui Trust Bank (USA) Limited, after which he was CEO of Japan Information System Ltd, an affiliate company of SuMi TRUST.
Tanaka has been instrumental in overseeing the corporate transaction in 2012 and working with Karl McEneff and the teams in Tokyo, Dublin and London to effect a successful transition. He has continued to play an active role in the overall management and development of the global asset servicing business.
Tanaka and McEneff will continue to work together closely on a number of on-going projects that will see SuMi TRUST continue to strengthen its position as a leading global provider of fund administration, trustee and custody services for international fund managers and investors.
Hideki Hiraki, Managing Executive Officer of Sumitomo Mitsui Trust Bank in Tokyo with overall responsibility for Global Asset Servicing across Japan, Asia, the USA and Europe, says: "Karl has done an outstanding job for us integrating the two organisations since the corporate transaction and we are hugely grateful for the guidance and leadership he has shown. I am personally delighted that he will stay on as Chairman and continue to steer the business with the new CEO, Mr Hiromitsu Tanaka, and look forward to continuing to work together."