Japan's MUFG to make asset management its 'fourth pillar,' CEO says

Group aims to double assets under management to $1.35tn by 2030, Kamezawa says

20240122N MUFG Kamezawa

MUFG President and CEO Hironori Kamezawa wants to help Japan's drive toward becoming a global asset management hub. (Photo by Hiroyuki Kobayashi)

YUKI NAKAMURA, Nikkei staff writer

TOKYO -- Japan's Mitsubishi UFJ Financial Group will seek to grow its asset management subsidiary into a core business, MUFG President and CEO Hironori Kamezawa told Nikkei in a recent interview.

Group company Mitsubishi UFJ Asset Management targets 200 trillion yen ($1.35 trillion) in assets under management by the end of March 2030, double the current figure, through acquisitions and other moves.

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