The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Are You the $3B Missing Piece For This Banking Giant? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 12, 2015

Are You the $3B Missing Piece For This Banking Giant?

News summary by MFWire's editors

CEOs at a pair of giant, foreign financial services companies are talking about investing in asset management in the U.S. One of them is touting a purse size for his dealmaking: $3 billion.

Nobuyuki Hirano
Mitsubish UFJ Group
President, CEO
Nobuyuki Hirano, CEO of Mitsubishi UFJ Group, tells the Financial Times that he wants to buy into the U.S. asset management space, to the tune of a $2.5-billion to $3-billion deal. He describes asset management as "another big pillar for MUFG," which is the largest bank in Japan.

"It is possible that we will acquire one of the well-managed asset management companies," perhaps "in collaboration" with Morgan Stanley, Hirano tells the paper. Morgan Stanley already has two Japanese joint ventures with MUFG.

Meanwhile, British institutional asset manager Legal and General is on the hunt, too. The FT reports on L&G CEO Nigel Wilson's comments about what he'll do with the cash from some some upcoming divestments, like the rumored $168-million sale of L&G's French arm.

"On use of proceeds, I think there are a few areas that we'd like to spend some money on. LGIM America is going so well, so we'd like to accelerate that growth," Wilson reportedly told analysts. "We continue to look at the ETF space where are again we are doing classic build/buy analysis. If we are to spend the proceeds that's an area I like."

U.S. fundsters might recognize L&G's U.S. arm as the institutional asset manager taken over in March by former LPL president Robert Moore

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use