Japan megabank brokerages ramp up wealth management business

MUFG, Mizuho and SMBC pursue upmarket clients with personal service

20240911N Japanese Mega Bank

With Japan's number of millionaires likely to grow, major securities companies are boosting offerings tailored to them. (Nikkei photo montage)

HARUKI KITAGAWA, Nikkei staff writer

TOKYO -- The securities arms of Japan's three megabanking groupsĀ are hiring more staff for their wealth management operations, hoping to attract affluent customers with personal service as online competitors peel away general demand with commission-free trading.

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