Hey everyone, I was curious to hear your thoughts on MUFG. I know that their flagship is in project finance, and they are trying to grow out their other arms as well.
In terms of culture, many people describe Japanese culture as hierarchal, and conservative, with bias towards certain groups of people in terms of social mobility. However, Japanese banks are becoming more Americanized according to friends in the industry.
Just wanted to hear your thoughts on MUFG and its reputation. I know it's a large bank, but it is not talked as much as other banks such as Nomura or Mizhou (from what I've seen), and wanted to demystify this as well. (Will also be working there).
Bump
Bump
I don't know about MUFG specifically but I was told by someone at Mizuho that the HQ in Tokyo could care less about the ex-Japan employees except to the extent that they make money. There's a good bit of soft racism and any effort you make to pick up some Japanese culture is seen as a party trick when visitors from the homeland come through on a tour. Maybe it varies from bank to bank but from what I know of Japanese business/culture generally it makes sense to me.
MUFG is absolutely killing it in Japan, but only slowly making its way up on wall street. Heard that since they invested about $9bn in MS a couple of years ago, they are now more exposed to some higher level deal flow
Thanks for the comment! Other than project finance, how are they killing it in japan? I'm assuming their IB arm is growing.
Given their pretty large balance sheet, I'd assume anything related to underwriting capital (i.e. levfin) should be pretty good too. But don't quote me on that
Yeah I was surprised to see that too, given that Japan as a whole is not killing it.
Focused on capital markets
Any feedback on S&T? In comparison to Nomura I heard it is better, but seems like it carries less weight.
No way - Nomura has better trading desks, both in terms of product coverage and the quality of hires they make. But things are a little shaky on that side of Nomura’s business, some restructuring underway
It is true that MUFG is undergoing some form of “Americanization” as you put it. Historically the bank has never let people go, and are now undergoing a huge restructuring in Asia ex-Japan.
The positive side of this transition though, is that they are looking to pursue more aggressive deals and diversify outside their comfort zone - within leveraged finance they’ve historically focused on certain sectors that they were comfortable with (just because of legacy reasons) but are now looking at strategically / objectively expanding this loan book.
Having said that, it will still take time before they are on par with other known debt houses.
LOW PAY
How low?
Low pay - sh** culture. Bottom of the bucket barely competing to win transactions. Would highly recommend any top 10 or BB bank over MUFG. Would be a waste of a experience. Turnover here is crazy (more than a BB). Also Japan runs a tight ship and constrains the business
Any have any details on Corporate Banking at MUFG?
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