Mitsubishi UFJ Financial Group appointed Kevin P. Cronin regional executive of the Americas at MUFG and MUFG Bank (its primary banking subsidiary) and president and CEO of MUFG Americas Holdings Corporation and MUFG Union Bank.
Cronin will succeed Stephen E. Cummings as the senior-most executive in the Americas for MUFG, effective March 31, 2021, after Cummings announced his retirement in September 2020. Cronin will be based in New York and will become a member of the board of directors of MUFG Americas Holdings Corporation and MUFG Union Bank.
“As we move into the next chapter of MUFG’s growth, we are very pleased to have Kevin lead our Americas franchise,” Kazuo Koshi, executive chairman of the board of directors for MUFG, said. “In addition to having spent the past decade leading and building various business lines at MUFG, Kevin inspires loyalty in teams, has an unwavering dedication to diversity and inclusion efforts, drives financial performance while operating safely and soundly, and delivers for our clients. Kevin’s tenure at MUFG, spanning both wholesale and regional banking, and his extensive knowledge of our business will ensure the continuity of transformational initiatives underway to position MUFG Americas for compelling and strategic growth. On behalf of the board of directors, I would like to thank Steve for his leadership and partnership the past six years and, of course, to congratulate Kevin as we embark on the next phase of growth.”
“MUFG Union Bank has been my home for the past decade, and it is both an honor and a privilege to lead our Americas business. The firm’s client-centric approach continues to drive our strategy, and I look forward to building on our strong momentum and taking MUFG to the next phase of growth in the Americas,” Cronin said. “I would like to thank the board of directors for their confidence in me, my MUFG colleagues for their support over the years, and Kaz, Steve and the rest of the leadership team for their partnership. I am excited to lead the business forward and to continue to build on our strong foundation in the Americas by engaging with our employees, our clients and members of the communities that we support.”
“It has been a privilege to lead MUFG in the Americas for the past six years. In addition to having worked with a group of talented and dedicated individuals, I am very proud of the progress we have made on several fronts, including transforming our core bank processes and enhancing our technology platform,” Cummings said. “I congratulate Kevin for his terrific partnership over the years and wish him the best as he continues to build on MUFG’s strong foundation and take the company to the next level of growth and success.”
Cronin most recently served as the head of MUFG’s global corporate and investment bank in the Americas. He also is a member of the company’s executive inclusion and diversity council, was the executive sponsor of PULSE (the company’s African American/Black employee resource group) from 2015 through 2019 and has been the executive sponsor of SERVE (the company’s veterans employee resource group) since 2019.
Prior to joining MUFG in 2011, Cronin spent more than 20 years at Bank of America and its predecessor firms, where he held senior roles leading U.S. corporate banking, transaction banking and loan syndications. He was also a member of the merger integration team following the acquisition of Merrill Lynch. Cronin began his career at Union Bank as a middle market commercial loan officer.