• Kyodo News


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.

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