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Japan's best private bank 2018: Mitsubishi UFJ Morgan Stanley PB Securities

Mitsubishi UFJ Morgan Stanley PB Securities

Satoru Adachi, President, Mitsubishi UFJ Morgan Stanley PB Securities.jpg
Satoru Adachi, Mitsubishi UFJ Morgan Stanley PB Securities

Is there anything MUFG’s dynamic joint venture with Morgan Stanley in Japan doesn’t do? The short answer appears to be not much.

In a market strangely absent of many of the bigger names of international private banking, Satoru Adachi’s Mitsubishi UFJ Morgan Stanley PB Securities dominates. By harnessing MUFG’s clear domestic muscle with one of US banking’s most-recognized names, this has become Japan’s go-to private bank. In the year to March 2018, the joint venture added about 2,000 extra high net-worth clients to its roster, amounting to ¥250 billion ($2.2 billion) in net new business.

It now boasts more than 35,000 clients, while total client assets under the venture’s management are about $30 billion. Little wonder that net revenues jumped 14.4% this year from last, and net profits of $112 million were up almost 30% year on year.

Those clients are served by 546 employees – 260 of them financial advisers – operating from four hubs in Tokyo, Osaka, Fukuoka and Nagoya.

Next on its agenda? More of the same, confirming its domination of Japanese private banking (although Asiamoney humbly suggests a less cumbersome trading name would be well received.)