Mitsubishi UFJ Seeks Partnership with Morgan Stanley for Asset Management

Mitsubishi UFJ Financial Group is in talks with Morgan Stanley to form a joint venture in asset management. The tie-up aims to create a global leader in wealth management and asset management, with a combined $1.7 trillion in assets under management. The partnership will help Mitsubishi UFJ expand its presence in the US market and Morgan Stanley in Japan. The venture is expected to be announced in the coming months.