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Mitsubishi UFJ Morgan Stanley Securities aims to grow retail wealth assets by $62 billion

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TOKYO, June 11 : Japan’s Mitsubishi UFJ Morgan Stanley Securities (MUMSS) aims to increase assets managed for retail clients by 10 trillion yen ($62 billion) over the medium to long term, its president told Reuters.

The securities firm and investment bank – a joint venture between Japan’s largest banking group, Mitsubishi UFJ Financial Group, and Morgan Stanley – also plans to expand its sales force by several hundred staff, Hiroyuki Seki said in an interview.

The target reflects expected growth in Japan’s wealth management market as the end of deflation and rising interest rates encourage savers to shift out of cash into higher-yielding investments.

Fees from managing these assets have helped lift profits across Japan’s financial sector.

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As of the end of March, MUMSS had assets under management of 55.9 trillion yen.

The firm plans to deepen ties with employees and executives at existing corporate clients and broaden its product range, including by offering loans backed by a wider range of client assets, Seki said.

It currently provides lending backed by equity holdings.

($1 = 160.4100 yen)

Source: Reuters

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