The Bank of Tokyo-Mitsubishi UFJ (BTMU) and Union Bank today announced the introduction of an alliance between their existing power and utility groups in the United States. Beginning immediately, the groups jointly will market BTMU and Union Bank products under the Mitsubishi UFJ Financial Group (MUFG) brand.
The two U.S. power and utilities groups will report to the newly established Power & Utilities Leadership Team, led by Grant Ahearn, Head of Specialized Financial Services, from Union Bank, and including Jonathan Lindenberg, Head of Project Finance for the Americas, from BTMU, and John Edmonston, Head of the Power and Utilities Group, from Union Bank.
“We are very excited about this new direction and the combined expertise it will bring to all of our clients in the United States,” Ahearn said. “Both BTMU and Union Bank have extensive experience in structuring complex financings for power and utility clients. Customers will also benefit from the greater lending power of this alliance.”
Lindenberg added, “We believe our power and utilities clients utilizing project finance will benefit from the greater market knowledge that the MUFG team will have.”“Our intention is to further familiarize the market with the ‘MUFG’ brand. We expect that the unified efforts of BTMU and Union Bank will position us to achieve stronger results,” Edmonston said. Ahearn added, “Moving forward, our combined expertise in facilitating transactions, our solid reputation in the energy industry, and our ability to underwrite and syndicate large transactions should serve our customers very well. We will continue to consider how we can further work together to maximize our client services.” About Bank of Tokyo-Mitsubishi UFJ and the Mitsubishi UFJ Financial Group The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) is Japan’s premier bank, with a global network spanning over 40 countries. BTMU offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial groups, with total assets of more than JPY200 trillion (approximately US$2.19 trillion) and deposits of approximately JPY120 trillion as of December 31, 2009. MUFG’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group’s operating companies include BTMU, Mitsubishi UFJ Trust and Banking Corporation, Japan’s leading trust bank, and Mitsubishi UFJ Securities, one of Japan’s largest securities firms. MUFG’s shares trade on the Tokyo, Osaka, Nagoya, and New York (NYSE: MTU) stock exchanges. Visit www.mufg.jp for more information. About UnionBanCal Corporation & Union Bank, N.A. Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $86 billion at December 31, 2009. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank has 340 banking offices in California, Oregon, Washington and Texas and two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG) (NYSE:MTU), one of the world’s largest financial organizations. Visit www.unionbank.com for more information. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6178976&lang=en