Merrill Lynch exits Japanese private banking venture with Mitsubishi UFJ

14 December 2012 | 2 minutes read

In a bid to capture the business of Japan’s 1.8 million high net worth individuals (HNWIs), Mitsubishi UFJ has agreed to purchase Bank of America’s shares in the private banking venture, Mitsubishi UFJ Merrill Lynch PB Securities (MUML-PB). With ¥25 billion (US$250 million) in deposited assets as of March 2012, Mitsubishi UFJ will boost its total holding to 51%, agreeing…

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