MUFG appointed Kenjiro Horikawa as managing director and country head for the Philippines, effective 1 October. The Japanese banking group announced the change on 5 October. Horikawa will oversee its Manila operations, client relationships and investment-support activity.
Horikawa joined MUFG in 2003 and has held positions in Japan, Thailand, Singapore and the Philippines. He most recently served as deputy head of Japanese corporate banking for Asia Pacific in Singapore during 2025 and 2026. Earlier assignments included six years in senior roles at Bank of Ayudhya in Thailand.
APPOINTMENT FOLLOWED A LICENSING MILESTONE
The leadership change came after MUFG's Manila branch received Bangko Sentral ng Pilipinas approval in September to operate as a universal bank. That status broadens the branch's ability to provide financial services to corporations and institutions.
MUFG has maintained a Philippine presence through its branch and a strategic partnership with Security Bank. It acquired a 20% stake in Security Bank in 2016, linking its regional network with the local lender's market coverage.
CORPORATE BANKING REMAINS THE FOCUS
MUFG said Horikawa would deepen client relationships and coordinate services across the group. His regional corporate-banking experience gives the Manila operation leadership familiar with Japanese companies and cross-border investment flows.
The next test will be how MUFG deploys its expanded universal-banking permissions under the new country head. Further product launches, balance-sheet commitments or partnership activity would provide measurable evidence of the strategy's implementation.