Branch Transformation

SMBC opens locations in Washington, DC

November 2, 2023

Sumitomo Mitsui Banking Corp., a member of SMBC Group, opened a representative office in Washington, D.C. as part of a strategy to expand its reach in the U.S., according to a press release.

The bank has also hired multiple people including Randy Ross, head of government affairs and public policy and Althea Pieters as head of regulatory strategy. Ross previously served as head of U.S. public policy for Credit Suisse and Pieters served as head of U.S. regulatory policy at Credit Suisse.

"Today, we are excited to mark the continued expansion of our U.S. operations by announcing the opening of our Washington D.C. office and a best-in-class team to run it," Hiro Otsuka, CEO of SMBC Americas Division and president and CEO of SMBC Americas Holdings Inc., said in the release. "As one of the largest foreign banks in the United States, it is crucial for us to maintain our focus on the evolving regulatory and public policy environment with a team on the ground."