Takeo Kani has resigned as Chairman of Morgan Stanley Dean Witter Japan Limited (MSDWJ), effective 4 January, 2001. Kani will become senior advisor of MSDWJ and an advisory director for the firm globally. In this role, he will continue to work closely with a number of the firm’s Japanese clients.

“During his tenure, Morgan Stanley Dean Witter Japan has developed a leadership position with around 1,400 staff in Tokyo and leading market shares in all our key businesses," said Philip J. Purcell, chairman & CEO, and John J. Mack, president & COO, of Morgan Stanley Dean Witter on the chairman's retirement.  

Thierry PortT, President, MSDWJ, added, “We are fortunate to continue to benefit from Takeo Kani’s wise counsel and experience. He has set us high standards for our work with clients and our collaboration as colleagues."

Kensuke Hotta will join Morgan Stanley Dean Witter as a managing director and will assume the role of chairman and representative director of MSDWJ. Hotta has spent his entire career at Sumitomo Bank, where he is currently an advisor. In his 38 years with the bank he has held a number of senior management positions in Tokyo, New York and London.

"Ken Hotta’s long experience in finance, his strong relationships in both the private and public sector and his deep understanding of the global financial markets will be of great value to our Japanese franchise in the years to come,” said PortT of the appointment.