Mizuho Financial Group is planning to make changes in its structure following a widespread computer-system failure in March 2011, The Wall Street Journal reports. The Japanese bank may merge its retail unit, Mizuho Bank, with wholesale unit, Mizuho Corporate Bank and also shuffle management positions.
The possible merger is expected to complete in 2013. Additionally, the president of Mizuho Bank, Satoru Nishibori will step down from his position and be replaced by current Mizuho Financial Group president, Takashi Tsukamoto.
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