The Zacks Analyst Blog Highlights: Mitsubishi UFJ Financial Group, Morgan
Stanley, Deutsche Bank, Bank of America and Pall
CHICAGO, May 2, 2013
CHICAGO, May 2, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Mitsubishi UFJ Financial Group,
Inc. (NYSE:MTU), Morgan Stanley (NYSE:MS), Deutsche Bank AG (NYSE:DB), Bank of
America Corp. (NYSE:BAC) and Pall Corporation (NYSE:PLL).
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Here are highlights from Wednesday's Analyst Blog:
Mitsubishi UFJ Seeks Morgan Stanley Trust
In order to expand its operations, Japan-based Mitsubishi UFJ Financial Group,
Inc.'s (NYSE:MTU) U.S.-based subsidiary – UnionBanCal Corporation – is seeking
to acquire the rights to sell trust-banking services to Morgan Stanley's
(NYSE:MS) clients. The proposed business to be acquired offers trust services
for approximately $4 billion worth of client assets.
The trust services business offers fiduciary and administrative services for
high net worth clients who plan to set up personal trusts. Morgan Stanley will
continue to manage the client assets, while Mitsubishi UFJ will earn fees from
the sale of trust services to the clients.
Mitsubishi UFJ's primary intention behind the proposed deal is to augment
revenues to somewhat offset the persistent lower loan demand in Japan. The
company has been growing inorganically over the last few years. Earlier in Apr
2013, UnionBanCal announced a deal to acquire commercial real estate (CRE)
lending portfolio and platform from PB Capital Corporation – a wholly owned
subsidiary of Deutsche Bank AG (NYSE:DB).
Moreover, in Dec 2012, Mitsubishi UFJ purchased the remaining 49% stake in
joint venture (JV) with Bank of America Corp. (NYSE:BAC), enabling it to
further improve its relationship with Morgan Stanley, with whom it has 3
separate JVs. Hence, the above-mentioned proposed deal will add strength to
Mitsubishi UFJ's relationship with Morgan Stanley.
For Morgan Stanley, which has been trying to consolidate its global operations
and concentrate on brokerage operations, the deal if finalized would be a
positive step. In Mar 2013, it announced plans to restructure its Europe, the
Middle East and Asia (EMEA) Private Wealth Management (PWM) business.
Additionally, the company agreed to sell its EMEA PWM businesses in the U.K.,
U.A.E., and Italy to Credit Suisse.
Pall Corp. Opens New Office in Saudi Arabia
Pall Corporation (NYSE:PLL), a leading supplier of filtration, separation and
purification products, recently opened its second office in the Middle East.
The new office will be located in Al Khobar, in the Kingdom of Saudi Arabia
(KSA). Earlier, in October 2010, Pall had opened its regional headquarters in
Ever since its inception in 2003, Pall has always felt the need of increased
local presence to help its customers with improved services. At the new
office, Pall plans to maintain a customer support team along with an
engineering facility to better serve its customers and partners in the region.
Pall has been currently experiencing increased demand for advanced fluid
management solutions in the region. This will be rightly answered by Pall's
local presence in the region along with its diversified product portfolio
comprising different applications that serve various industries such as oil
and gas, petrochemicals, power generation, pharmaceuticals and water
Recently, Pall also entered into research collaboration with the King Abdullah
University of Science and Technology (KAUST) located in the region. This
integration was a part of the KAUST Industry Collaboration Program (KICP). As
per the terms of the contract, Pall will take part in joint research program
in the areas of filtration, separation and purification technologies.
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