Mizuho says VP Hayashi to replace Sato as Mizuho Bank president

TOKYO Thu Jan 23, 2014 1:48am EST

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TOKYO Jan 23 (Reuters) - Mizuho Financial Group Inc said on Thursday that Vice President Nobuhide Hayashi will take over as president of core unit Mizuho Bank effective April 1.

Current President Yasuhiro Sato will remain head of Mizuho Financial Group, Japan's second-biggest bank said.

Mizuho will hold a news conference at 4:30 p.m. (0730 GMT) regarding the management changes.

The banking group has been embroiled in a scandal over loans to members of organised crime, prompting Japan's banking regulator to slap the lender with penalties. (Reporting by Taiga Uranaka; Writing by Shinichi Saoshiro; Editing by Chang-Ran Kim)

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