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APR 28, 2013 - Yahoo! News

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MUFJ unit in talks to sell services to Morgan Stanley trust clients

NEW YORK (Reuters) - A U.S. unit of Mitsubishi UFJ Financial Group Inc is in talks to acquire the rights to sell trust-banking services to Morgan Stanley's clients, in the bank's latest bid to expand its business abroad, a source familiar with the matter said on Sunday. The proposed deal involves Mitsubishi UFJ's Union Bank providing services to trust accounts worth an estimated $4 billion, which Morgan Stanley will continue to manage. Union Bank will earn fees on the trust services it sells, the source familiar with the matter said. ...

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