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Asian equities mixed following fourth week of US gains

Jun Ohta, the chief executive of Sumitomo Mitsui Financial Group and the driving force behind its recent wave of expansion into both the US and south-east Asia, has died at the age of 65. 

Ohta’s death last week, which was announced by the company on Monday, followed a four-year stint at the top of the Japanese megabank, and a long career rising through its ranks. 

As well as building the bank’s recent reputation for aggressive foreign expansion, Ohta steered the financial group through one of its most painful recent episodes: a scandal at its brokerage unit, SMBC Nikko over alleged market manipulation.

In November 2022, Ohta joined the president of SMBC Nikko in making a formal apology.

Read more about Jun Ohta here.

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