Morgan Stanley plans to step up ties with Mitsubishi UFJ Financial Group to get more market share across all of its businesses in Japan, the U.S. bank¡¯s local chief said.
¡°We believe that is the only way we are going to become the top securities house in Japan,¡± Alberto Tamura said in an interview. ¡°MUFG is the largest financial institution here in Japan. Morgan Stanley has a great global platform. If you combine those two, I believe that we have plenty of opportunities.¡±
Through their two local joint brokerage ventures, the banking giants are looking to strengthen collaboration in wealth management, securities trading and investment banking, he said. They are also discussing doing more outside the securities business, such as in real estate asset management, he added.
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