MUFG Americas Holdings Corporation

MUFG Americas Holdings Corporation (formerly known as UnionBanCal Corporation) is an intermediate bank holding company based in New York City. It is the parent company of MUFG Union Bank, N.A.[4] and MUFG's consolidated U.S. operations.

MUFG Americas Holdings Corporation[1]
TypeSubsidiary of Mitsubishi UFJ Financial Group
Founded
Headquarters1251 Avenue of the Americas
New York, New York, U.S.
Key people
Kevin Cronin,[3] CEO
Masatoshi Komoriya,[3] Executive Chairman
ProductsFinancial services
Number of employees
10,164
Parent
Websitemufgamericas.com
UnionBanCal's branch footprint

MUFG Americas Holdings (MUAH) is itself a wholly owned subsidiary of MUFG Bank, Ltd., a member of the Japanese Mitsubishi UFJ Financial Group conglomerate.

History

MUAH had total assets of $163 billion as of December 31, 2021.[1] Its predecessor, UnionBanCal Corporation, had assets of $105 billion as of December 31, 2013.[5] MUAH has the largest presence in the U.S. among all other Japanese Banks, as competitors Sumitomo Mitsui Financial Group and Mizuho Financial Group do not operate U.S. branch banking subsidiaries.

In 2013, bank officials stated that the bank's aim was to become the tenth largest financial operating institution in the U.S. through aggressive acquisition(s).[6]

In May 2014, Union Bank, N.A. announced it would be changing its legal name from Union Bank N.A. to MUFG Union Bank, N.A. effective July 1, 2014.[7] On the same effective date, UnionBanCal Corporation changed its legal name to MUFG Americas Holdings Corporation. On September 21, 2021, MUFG Union Bank, N.A. announced that it would be acquired by US Bancorp.[8]

Shareholders
  • MUFG Bank — 63% in Feb. 2005, and 100% on 4 November 2008.

Sections
  • Community Banking and Investment Services Group
  • Commercial Financial Services Group
  • Global Markets Group
  • International Banking Group

Subsidiaries
  • MUFG Union Bank — formerly Union Bank, N.A. and Union Bank of California, N.A.
  • Tanner Insurance Brokers Inc.
The former UnionBanCal logo, used from 1996 to 2008.

Notes
  1. July 1, 2014 as MUFG Americas Holdings Corporation
  2. April 1, 1996 as UnionBanCal Corporation
  3. May 1, 1972 as Bancal Tri-State Corporation
  4. July 5, 1864 as The Bank of California

References
  1. "FR Y-15 report". FFIEC NIC PubWeb. Retrieved 1 October 2022.
  2. "National Information Center Institution History".
  3. "Who We Are". Retrieved 27 September 2022.
  4. "Large Bank Holding Companies". FFIEC NIC PubWeb. Retrieved 1 October 2022.
  5. "Archived copy" (PDF). Archived from the original (PDF) on 2011-07-16. Retrieved 2009-06-18.{{cite web}}: CS1 maint: archived copy as title (link)
  6. "Mitsubishi UFJ to Acquire US Property Loans of Deutsche Bank worth $3.7 Billion". April 8, 2013.
  7. "News From Union Bank". May 21, 2014. Archived from the original on June 6, 2014.
  8. "U.S. Bank to Acquire MUFG Union Bank".


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.