Mitsubishi UFJ Financial Group Inc. and Morgan Stanley will carry out their first major internal reorganization in more than a decade since the entities – Morgan Stanley MUFG Securities and Mitsubishi UFJ Morgan Stanley Securities – were formed in Japan.
![The banking giants set up joint ventures in Japan in 2010 after forging an alliance in 2008.](https://krugmaninsights.com/wp-content/uploads/2023/07/TTA-acts-for-MUFG-Bank-on-minority-stake-buy-in-DMI-Finance.jpg)