Mitsubishi UFJ Morgan Stanley Securities and Mitsubishi UFJ Morgan Stanley PB Securities conclude agreement to merge

Maria Nikolova

PB Securities will become a wholly-owned subsidiary of MUMSS, then be absorbed by MUMSS, which will be the surviving entity.

In line with an earlier report by FinanceFeeds, Mitsubishi UFJ Financial Group Inc (TYO:8306) has earlier today announced that two of its subsidiaries – Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (MUMSS) and Mitsubishi UFJ Morgan Stanley PB Securities Co., Ltd. have concluded an agreement to merge.

In conjunction with this, MUMSS and MUFG Bank, Ltd. have entered into a share transfer agreement.

MUFG explains that it is promoting the wealth management business as one of its key strategies. It plans to bolster its infrastructure for providing a wide range of solutions on a group basis, including asset management, asset and business succession, and real estate services.

MUFG aims to give our customers a higher quality of services by advancing the integration of the asset management services possessed by PB Securities, with the full-service securities functions of MUMSS, as well as leveraging Morgan Stanley’s high-level know-how in the wealth management business.

MUMSS and MUFG Bank are shareholders (MUMSS: 75%; MUFG Bank 25%) in PB Securities. Under this merger agreement, the 24,407 shares of PB Securities held by MUFG Bank will be transferred to MUMSS. PB Securities will become a wholly-owned subsidiary of MUMSS, then to be absorbed by MUMSS, which will be the surviving entity.

The merger is expected to become effective on June 1, 2020.

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