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Mizuho’s top executives to resign over system failures
TOKYO (Reuters) -Mizuho Financial Group said on Friday its chief, chairman and three other executives will resign as financial authorities reprimanded Japan’s No. 3 lender for a series of technical system failures. The Financial Services Agency (FSA), the country’s banking regulator, said in a statement the failures had “undermined the credibility of Japan’s bank settlement system”. Group CEO Tatsufumi Sakai and Chairman Yasuhiro Sato, as well as the head of the main banking unit and executives in charge of the group’s systems and compliance, will step down by April to take responsibility for the glitches, the bank said.