Morgan Stanley’s Shareworks has teamed up with Mitsubishi UFJ Trust and Banking to offer stock plan administrative services to executives and employees of companies in Japan.

The tie-up is said to further ramp up the delivery of the US bank’s workplace financial solutions proposition.

It will offer compensation plan services to boost the competitiveness of Japanese companies by catering to their staff’s requirements.

Shareworks previously traded as Solium Capital, an employee stock plans manager that Morgan Stanley took over last year.

At present, Shareworks is part of the Morgan Stanley at Work – a suite of workplace financial solutions.

Morgan Stanley and Mitsubishi UFJ Financial Group, the parent of Mitsubishi UFJ Trust and Banking, have been partners since 2009.

Morgan Stanley head of Corporate & Institutional Solutions and COO of Wealth Management Jed Finn said: “Our strategic alliance with Mitsubishi UFJ Trust and Banking Corporation is a significant opportunity for Shareworks as the number of Japanese companies adding equity plans is growing about 35% annually.

“The alliance will also position us to provide financial wellness, retirement and wealth management services to the U.S. participants of Japanese companies.”

Developments at Morgan Stanley

Earlier this year, Morgan Stanley turned to Canaccord Genuity Wealth Management to support its entry into Canada’s wealth management space.

Canaccord Genuity will be the local platform provider of Morgan Stanley Wealth Management Canada.

Last month, Morgan Stanley recently also launched a new initiative to support the unique financial needs of its female clients and employees.

In the same month, the bank also unveiled a new accelerator to identify innovations dealing with systemic change for sustainability.

Moreover, this August, the bank expanded its offering for HNW clients by providing property & casualty (P&C) insurance.

Morgan Stanley was recently also designated as an official Institutional Financial Advisor participant of NFL Players Association (NFLPA), which is a labour union representing NFL players.