Sumitomo Mitsui Financial Group, Inc. President and Group CEO Tatsu Nakajima

Pioneering new business opportunities with the merchant spirit

President and Group CEO, Sumitomo Mitsui Financial Group, Inc.　Tatsu Nakajima(Toru Nakashima)

■ Profile
Born September 14, 1963, in Aichi Prefecture. Graduated from the Faculty of Engineering at the University of Tokyo in 1986. Joined Sumitomo Bank (now Sumitomo Mitsui Banking Corporation). Appointed Executive Officer in 2014. Appointed Managing Executive Officer in 2017. Appointed Executive Vice President in 2023. Appointed President and Group CEO on December 12, 2023.

As the head of Sumitomo Mitsui Financial Group, President Nakajima is promoting a wide range of reforms. During his time at university, he devoted himself to club activities and demonstrated leadership. This experience led him to join Sumitomo Bank. He says that he became interested in management while studying abroad. We spoke to President Nakajima about his journey and vision for the company.

During my student days, I studied at the Faculty of Engineering at the University of Tokyo while also devoting myself to the rugby club, and my life revolved around club activities for four years. In order to earn money for club fees and travel expenses, I had to allocate time not only to classes and research but also to part-time work.
I loved mathematics and went on to study engineering, thinking about becoming an academic in the future, but as I became more absorbed in rugby, I began to lose sight of my career path. Then, in my second or third year at university, I became interested in finance, where I could make use of my science knowledge. At the time, it was rare for people with a science background to be successful in the finance industry, but when I learned that Sumitomo Bank was making an effort to hire science graduates, I began to consider a career in finance.

■ Became interested in management after joining Sumitomo Bank

The deciding factor for me to join Sumitomo Bank was meeting Hiroaki Shukuzawa, captain of the Waseda University rugby team and manager of the Japanese national team at the World Cup. I was deeply impressed when I met Shukuzawa during my job interview, and his words, "If you're interested, why not come?", gave me the push I needed to join the bank.
In my third year at the bank, I was given the opportunity to study abroad at a business school in the United States for two years. During that time, I acquired the knowledge necessary for business, such as economics, law, marketing, and operations, and while spending time with friends who were aiming to start their own businesses, I became interested in management.
After returning to Japan, I was assigned to Corporate Planning, where I had the opportunity to observe a total of four presidents over a 16-year period. Seeing the management team working hard together as they dealt with bad loans after the collapse of the bubble economy, I became very interested in leading a company. I particularly worked with former President Jun Ota, who passed away suddenly in 2023, for many years, and I feel he had a great influence on me.

■The company's appeal lies in its 400-year-old merchant DNA

The appeal of Sumitomo Mitsui Financial Group lies in its merchant DNA, which dates back to the Edo period. A major reason why the business has continued for 400 years is its flexible response and the trust it has earned from its customers. I have adopted the slogan "The courage to break through," emphasizing our willingness to take on new challenges without being bound by existing concepts or precedents.
We are also focusing on digitalization efforts, and in order to actively incorporate employee opinions, we hold monthly meetings to discuss new services and ideas. To date, we have established more than 10 digital companies and have put in place a system to realize new ideas.

■Supporting university sports

We are also focusing on creating social value. We believe that a framework is necessary for business co-creation and product development, and have set aside 10 billion yen as an expense budget for these efforts.
Furthermore, we have recently launched a university sports support program. The experiences I gained through rugby during my university days have led me to where I am today, and I have decided to provide support to university students who are struggling to balance club activities with their studies. We are accepting applications on our website for a program that will provide support of several million yen to help club activities run smoothly.
Students will support Japan's revival through their growth, and we believe it is important to expand their opportunities for growth and challenges, so we will actively support them.

■ Aim for self-realization through work

The type of person I want to work with is someone who can "stand out." In other words, someone who has a shining personality and charm. While we require business skills, the company will provide an environment in which you can grow after joining the bank. We welcome people who aim for self-realization through their work and who value the concept of "work-life harmony."
Our vision is to be "a global solutions provider that develops together with customers and society through the utmost trust." While trust is obviously important in business, we want to develop not only with our customers but also with society. We want to go beyond financial services to provide high-quality solutions globally that address customer needs and social issues from a broad perspective, and become a globally competitive group.
Recently, we have been providing a comprehensive financial service called "Olive," which allows you to manage your bank accounts, credit cards, and other services all in one app. We plan to continue to offer a wide range of services in the future.

■Message

University is a sensitive time and a great opportunity for self-growth. Use your time wisely and gain a wide range of experiences. The four to five years between university and joining the workforce are an extremely important time for personal growth and shaping your future self. Use your time effectively so you don't have any regrets. Cherish this time when you can grow, and act with a clear vision of your future self.

(*) A phrase proposed by Jeff Bezos, former CEO of Amazon, which means that "work and life are not something to balance each other out, but rather something that enriches both and blends with each other."

Student newspaper October 1, 2024 issue Keio University 10rd year Nogan Yui

Sophia University third-year student Minami Yoshikawa / Keio University third-year student Sari Tsuka / Keio University third-year student Noganketsu / Waseda University third-year student Katsumi Yuasa