Mitsubishi UJF interested in BNY Mellon's corporate trust unit

|By:, SA News Editor

Looking to boost its U.S. presence, Mitsubishi UJF (MTU) is among those weighing a bid for BNY Mellon's (BK) corporate trust unit, reports the FT. The unit could fetch up to $2.5B in a sale, according to those close to the matter.

MUFG has been looking for growth outside of Japan in recent years, and recently told investors it wants to be a top-10 financial institution in the U.S. "by scale and profitability." It currently ranks 12th by deposits, according to SNL Financial.

Previously: BNY Mellon corporate trust unit reportedly on the block