Mitsubishi UFJ Financial Group (MUFG) is planning to merge its two asset management subsidiaries on 1 July2015 to improve business efficiency.
Mitsubishi UFJ Asset Management Co (MUAM) has signed a memorandum of understanding with KOKUSAI Asset Management Co (KAM) to create a new organizational structure to boost the group’s asset management business.
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Following the merger, the new firm will leverage the strengths of both MUAM and KAM to enhance its asset management ability as well as enhance management efficiency and deliver value-added asset management services.
In addition, the new company aims to boost its services by combining MUAM and KAM’s expertise to enhance its line-up of products that address a range of customer needs. It will also continue to provide asset management services.
Terms of the deal including new company’s post-merger name, shareholding structure and personnel have not been disclosed.
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