MUFG puts its China puzzle together
MUFG Bank is investing in its Greater China business, but will its strategy pay off?
You can tell MUFG Bank is serious about its Greater China strategy from the kind of hiring it has been doing lately.
It began when veteran China banker Tony Lee joined MUFG Bank in April 2019 as head of global corporate banking for east Asia, co-head of investment banking for east Asia, and co-head of MUFG’s Hong Kong branch.
Lee had made his career at HSBC, where his last post was head of corporate and commercial banking: in the course of nearly 30 years at the bank, he ensured a steady flow of fees thanks to big deals from Hong Kong and mainland Chinese conglomerates and public sector entities, spanning sectors from real estate and transportation to telecommunications and infrastructure.
Lee has continued to nurture his Greater China client relationships in his new role: MUFG has been working with firms like Hongkong and Shanghai Hotels, Hongkong Land and Yip’s Chemical Holdings, among many others, during 2021.
But Lee’s appointment was just the beginning. MUFG has hired some of the top names in China banking in the past couple of years and continues to hunt for talent to build up its Greater China business, covering mainland China, Hong Kong, Macau and Taiwan.