The Bank of Tokyo-Mitsubishi UFJ, Ltd. Announces Notice Regarding the
Americas Business Integration of The Bank of Tokyo-Mitsubishi UFJ, Ltd. and
Change of the Legal Names of Consolidated Subsidiaries
TOKYO -- February 28, 2014
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of Mitsubishi UFJ
Financial Group, Inc. (MUFG) hereby announces that, subject to required
regulatory permission and approval, BTMU will rename its U.S. financial
holding company subsidiary, UnionBanCal Corporation, and its wholly-owned U.S.
national bank, Union Bank, N.A., as “MUFG Americas Holdings Corporation” and
“MUFG Union Bank, N.A.,” respectively, and operate its Americas banking
operations through an integration of all BTMU’s U.S. employees into MUFG Union
1. Outline of the business integration
(1) BTMU’s Americas banking operation will be integrated as follows and
operated under a single management structure on July 1, 2014.
The U.S. financial holding company, UnionBanCal Corporation, will be
renamed “MUFG Americas Holdings Corporation,” and it will supervise
(2) BTMU’s Americas banking operation which consists of Union Bank, N.A.,
BTMU branches in the U.S. and BTMU branches and subsidiaries in Latin
America and Canada.
Union Bank, N.A., a wholly-owned bank subsidiary of UnionBanCal
(3) Corporation, will be renamed “MUFG Union Bank, N.A.” and all the U.S.
employees of BTMU and Union Bank, N.A. will be integrated into MUFG
Union Bank, N.A.
The corporate headquarters (Principal Executive Office) for MUFG
Americas Holdings Corporation and MUFG Union Bank, N.A. will be located
(4) in New York City. However, our current sales organization covering the
East and West Coasts of the U.S. will be firmly maintained and further
In order to fully leverage the customer service related benefits of
operating BTMU branches in the U.S., in addition to MUFG Union Bank,
N.A., the New York, Chicago, and Los Angeles branches of BTMU will
(5) remain in full operation. The branches will retain their current
functions and roles in the foreign exchange and settlement businesses,
and continue to provide services to Japanese customers. The operation of
businesses in the Americas which are located outside of the U.S. (in
Latin America and Canada) will remain unchanged.
2. Background and objectives of the business integration
As part of the global strategy, BTMU considers it essential to increase
BTMU’s presence in the U.S. We believe that this business integration
will be the foundation toward accomplishing our goal of joining the
ranks of the “Top-Ten” U.S. financial institutions.
Through this business integration, we aim to deliver the following
(1) Enhanced services:
Streamlining duplicate operations between Union Bank, N.A. and BTMU
Headquarters for the Americas and by concentrating our talents and
expertise, we aim to enhance our product development and solution
provision capability and develop an organization able to meet
diversified customer needs through the provision of comprehensive
(2) Strengthened U.S. dollar funding capability:
Leveraging MUFG Union Bank, N.A.’s stable U.S. dollar funding capability
as a U.S. bank, we aim to respond to customer needs for smooth U.S.
dollar funding. Improvement of the Americas funding independence for our
group as a whole will also allow us to reduce foreign currency liquidity
(3) Advanced governance structure:
As a result of centralizing our chain of command, strategic planning and
resource allocation will be performed on an integrated basis, opening
opportunities to further improve profitability. In addition, the
strengthening of our internal controls structure will result in an even
more solid organization, capable of responding to the trend of
heightened regulatory expectations, both locally and internationally.
3. Change of the legal names of subsidiaries
(1) Outline of the affected subsidiaries
a) Current legal name UnionBanCal Corporation Union Bank, N.A.
b) New legal name MUFG Americas Holdings MUFG Union Bank, N.A.
San Francisco, San Francisco,
United States of United States of
d) Title/Name of President & CEO, President & CEO,
representative director Masashi Oka Masashi Oka
e) Business description Financial holding Banking
f) Capital stock 136 million dollars 605 million dollars
* Registered head office of the financial holding company and main office of
the bank subsidiary
(2) Reason for changes
a) MUFG Americas Holdings Corporation
Using “MUFG,” our global master brand, we will clearly identify
membership in the MUFG Group.
b) MUFG Union Bank, N.A.
The purpose of the trade name change is to appeal to a broader
range of customers by combining “MUFG,” our global master brand,
with “Union Bank,” a name widely recognized in the U.S.
Taking into consideration our current presence and service
offerings, the “MUFG” brand will be used for corporate banking
customers, and the “Union Bank” brand for retail and commercial
banking customers. Regardless of the brand, our commitment to
growing together with our community as a responsible bank remains
(3) Planned date for the name changes
July 1, 2014
The impact of the business integration and legal name changes on the financial
results of MUFG and BTMU is expected to be negligible.
Photos/Multimedia Gallery Available:
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Akira Narumi, +81-3-3240-1111
Corporate Administration Division
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