TOKYO — Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) has picked Amsterdam as its European Union investment banking base, sources with direct knowledge of the matter said on Wednesday, as global financial institutions prepare for Britain’s exit from the EU in 2019.
MUFG has also decided to open a branch in Paris for its investment banking unit, said the sources, who were not authorised to discuss the matter publicly.
An MUFG spokeswoman declined to comment.
Japan’s largest lender with $2.8 trillion (2.11 trillion pounds) in assets has already picked the Dutch city for its commercial banking operations in continental Europe.
Currently, the Japanese bank’s European investment banking unit, MUFG Securities EMEA plc, has its head office in London with staff of about 600 people.
(Reporting by Taiga Uranaka; Editing by Chris Gallagher and Edwina Gibbs)