Asset Servicing

MUFG Investor Services CEO to step down

Mark Porter is stepping down as CEO of asset servicing firm MUFG Investor Services but will remain with the firm as an adviser, the company announced in a news release.

Eiji Ihori, senior managing executive officer and deputy CEO of the trust assets business unit at Mitsubishi UFJ Trust and Banking, will replace Mr. Porter on an interim basis. Mitsubishi UFJ Trust and MUFG Investor Services are wholly owned subsidiaries of Mitsubishi UFJ Financial Group.

A MUFG spokesman said the company will consider whether to find a permanent replacement "once we have achieved our strategic goals for the near term."

John Sergides, managing director and global head of sales and marketing at MUFG Investor Services, will also handle Mr. Ihori's deputy CEO duties.

MUFG Investor Services had $540 billion in assets under administration as of Dec. 31.