As part of a global initiative to bring together its banking operations under one brand, MUFG announces that its core banking subsidiary has been renamed MUFG Bank, Ltd. This is part of a global shift by Japan's largest financial group to leverage its strength and expertise, providing seamless financial solutions to clients around the world.
The name change will strengthen the bank's identity as part of the wider MUFG group. MUFG Bank currently serves more than half a million corporate clients around the world. In addition to traditional corporate banking, MUFG offers its clients a full range of services including capital markets, credit, rates, equities, structured products, trade finance, structured finance and trust banking.
MUFG Bank's President and CEO, Kanetsugu Mike, said:
"Although the bank's name has changed, it's important to understand that our dedication to serving clients and our unyielding focus on lasting relationships will continue even as we seek to expand our client base worldwide. Our goal is to build on MUFG Bank's proud heritage as a trusted global bank while seamlessly providing innovative solutions to customers in a rapidly changing financial landscape."
Masahiro Kuwahara, CEO of MUFG Bank in EMEA, added:
"MUFG has been carefully building its presence across EMEA over many years. We know our clients increasingly need global solutions to their complex needs, and meeting this requirement will always be our priority. This announcement reflects both our desire to seamlessly deliver these solutions, and our long-term commitment to the region. As one MUFG globally, we look forward to supporting many more clients with the achievement of their strategic aims, whether they are looking to raise, move or hedge money."
The bank's relevant legal entity names will be renamed in each country across EMEA on the following dates:
1st April 2018
• UK, France, Italy, South Africa, Kazakhstan, Iran
• Germany, Spain and Portugal will be transferred to MUFG Bank Europe (Europe) N.V.
2nd April 2018
14th May 2018
16th July 2018
• Abu Dhabi, Bahrain, Doha, Dubai
MUFG Bank's Russian subsidiary will also transfer to the new name in April, with the date subject to regulatory approvals.