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MUFG-Morgan Stanley venture to triple Japan wealth management team

Business will focus on the growing ranks of affluent Japanese

MUFG is the top shareholder in Morgan Stanley,holding a stake of 24%.   © Reuters

TOKYO -- The Japanese joint venture between Mitsubishi UFJ Financial Group and brokerage Morgan Stanley plans to nearly triple its staff focused on wealthy individuals by 2022, becoming a leading player in one of the country's few growing fields for financial services.

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