Mitsubishi UFJ Financial Group Inc. said Wednesday that Director Nobuyuki Hirano joined the board of U.S. financial services provider Morgan Stanley as an outside director Tuesday.
The appointment follows a capital alliance deal struck between the two firms last October, under which the Japanese banking group purchased $9 billion, or about ¥900 billion, worth of Morgan Stanley preferred shares.
MUFG is expected to play a proactive role as the U.S. firm’s leading shareholder, industry watchers say.
Hirano, 57, entered Mitsubishi Bank in 1974 and has previously worked in the United States.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.