Japan's best international bank 2020: Morgan Stanley
Morgan Stanley did an impressive job navigating the financial storm in 2020. That was abundantly clear in September when it officially cemented its spot as the most profitable foreign securities firm in Japan in the fiscal year ending in March. A bevy of deals in which Morgan Stanley participated and trading in hedge funds helped to fend off a challenge by JPMorgan Chase.
Net income from the bank’s venture with Mitsubishi UFJ Financial Group rose 5% to $216 billion, beating global rivals in Asia’s second-largest economy for a fourth straight year. That Morgan Stanley did so despite Covid-19 disruptions and the untimely return of deflation makes it a shoo-in for this year’s best international bank honours.
Making this 2020 achievement all the sweeter: it comes as Morgan Stanley celebrates its 50th year in Japan and the 10th anniversary of joining forces with Mitsubishi UFJ.