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MUFG says it's promoting managing director Hanzawa to bank CEO

TOKYO, Dec 24 (Reuters) - Mitsubishi UFJ Financial Group Inc said on Thursday it would make managing director Junichi Hanzawa, 55, the head of its core banking unit, as Japan’s biggest lender seeks to rejuvenate its business in the face of a tough lending environment.

Hanzawa, who shares his surname with the hero of a hit TV series about a banker, will become chief executive of MUFG Bank effective April 1. Outgoing CEO Kanetsugu Mike, 64, will become group chairman.

MUFG said it would hold a new conference at 5 p.m. JST (0800 GMT). (Reporting by Takashi Umekawa; Editing by Chris Gallagher)

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