Morgan Stanley plays the Japan card
Last Tuesday (March 30), Mitsubishi UFJ Financial Group (MUFG) and Morgan Stanley announced they had entered into definitive agreements to integrate their securities operations in Japan. They are expected to begin joint-venture operations on May 1.
Through a joint-ownership structure, the banks will collaborate in a number of business and product areas in Japan, offering a full range of institutional businesses, a large domestic retail brokerage network and significant global reach, they said.
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