The third-biggest bank for Japan Sumitomo Mitsui Financial Group Inc. said Teisuke Kitayama would replace Yoshifumi Nishikawa as president.

Kitayama, 58, served in the bank’s planning divisions before the bank appeared as a result of mergers in 1990 and became Sumitiomo’s vice-president in 2004.

Sumitomo Mitsui also said Masayuki Oku, 60, the president of main banking unit Sumitomo Mitsui Banking Corp.