Japan's MUFG to spend up to $9b on acquisitions to double assets under management

Japan's MUFG to spend up to $9b on acquisitions to double assets under management

A man walks out form a branch of the Mitsubishi UFJ Financial Group's bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan, February 1, 2016. REUTERS/Yuya Shino

Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) is ready to spend up to 1 trillion yen ($9.05 billion) to acquire global asset management firms to double the amount of clients’ money that it handles, a top executive told Reuters.

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