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Veteran Risk Management and Global Markets Executive Joins MUFG

Denis McHugh Named Chief Risk Officer for MUFG Securities Americas Inc. and Market Risk Management Officer for MUFG Americas Holdings Corporation

NEW YORK, August 1, 2022 – MUFG, one of the world’s leading financial groups, today announced that Denis McHugh will join the company as Chief Risk Officer for MUFG Securities Americas Inc. and Market Risk Management Officer for MUFG Americas Holdings Corporation, effective August 30, 2022.

Mr. McHugh will be based in New York and report to Brian Gunn, Chief Risk Officer for MUFG Americas Holdings Corporation, and Yasutaka Suehiro, Chief Executive Officer for MUFG Securities Americas Inc. He will also have matrixed reporting to Osamu Nakajima, International Chief Risk Officer for Mitsubishi UFJ Securities Holdings Co., Ltd.

In his new role, Mr. McHugh will be responsible for providing strategic direction for risk management for MUFG Securities Americas Inc. and and overseeing all risk disciplines for that business. He will also be responsible for instituting sustainable risk programs across the material risk disciplines and aligning them with the regulatory expectations of our business lines. Mr. McHugh will also oversee market, liquidity, and interest rate risk management for MUFG Americas Holdings Corporation.

“Denis is a distinguished finance executive with vast experience in risk management and line of business oversight at large multinational banks, which uniquely positions him well for his new role at MUFG,” said Mr. Gunn. “His firsthand knowledge of the global markets and securities industry will sharpen our view of risk management through a business lens.”

Mr. McHugh has over 30 years of experience in both market risk management and capital and emerging markets at global financial institutions. Previously, he served as the Enterprise Head of Market Risk Management for BMO Financial Group, where he was also Capital Markets Chief Risk Officer, and Commerzbank AG. Prior to transitioning to risk management, Mr. McHugh held leadership positions overseeing markets, sales and trading, and structured finance businesses at firms that include Fortis Bank, ABN AMRO Bank, and Rabobank International. Mr. McHugh holds a B.A. in Economics from Washington University in St. Louis, MO.

Mr. Suehiro said, “ With his deep expertise across diverse asset classes and market instruments, Denis will offer a valuable perspective that balances appropriate risk appetite and controlling our exposures with our business’s revenue goals.”

About Mitsubishi UFJ Financial Group, Inc.’s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial groups, has total assets of $332.4 billion at March 31, 2022. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $159.2 billion at March 31, 2022. MUAH’s main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of March 31, 2022, MUFG Union Bank, N.A. operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

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