Following the acquisition, Butterfield Fulcrum will become the global alternative asset administration platform of MUTB
, which is part of Mitsubishi UFJ Financial Group Inc (TYO:8306).
The Board previously has determined that MUFG, BTMU, and MUTB
are subject to comprehensive supervision on a consolidated basis by their home country supervisor.
also intend to initially acquire 9.9 per cent of AAM issued share capital with options to take that holding to 19.9 per cent.
What Could Change the Rating - Up: BTMU, MUTB
, and SMBC
The Board previously has determined that BTMU and MUTB
are subject to comprehensive supervision on a consolidated basis by their home-country supervisor.
The agency, however, maintained the ratings themselves, citing the sound financial standing of MUFG that enables it to make such an investment and the ability of BTMU and MUTB
to absorb its negative effects.
BTMU, Mitsubishi UFJ Trust and Banking Corporation (MUTB
), and Mitsubishi UFJ Securities Holdings
has assigned an Aa3 rating to the senior notes issued by Mitsubishi UFJ Trust and Banking Corporation (MUTB
Japan-based Mitsubishi UFJ Trust and Banking Corporation (MUTB
) is said to be planning to purchase Butterfield Fulcrum, an alternative fund administrator.
Established in 1927, MUTB
is a wholly owned subsidiary of Mitsubishi UFJ Financial Group the 5th largest global bank holding company ranked by assets.
The notes will be structurally subordinated to the liabilities of MUFG's subsidiaries, including Bank of Tokyo-Mitsubishi UFJ (BTMU; A/Stable) and Mitsubishi UFJ Trust & Banking Corporation (MUTB
has also bought a 33 percent stake in a Chinese joint venture with Shenyin & Wanguo Securities from BNP Paribas (BNPP.PA) (LSE: BNP) (OTC: BNPQY) in 2010, and recently acquired a 15 percent stake in the fund management unit of Australian wealth manager, AMP Limited, in 2011.