MUFG’s big U.S. expansion is just getting started

The holding company for Union Bank — itself a unit of the Japanese giant Mitsubishi UFJ Financial Group — is on a mission to double its size and become one of the nation’s 10 largest banks. Under Steve Cummings, its first-ever American CEO, MUFG Americas has expanded middle-market lending and amassed $ 3 billion of consumer deposits through its new online bank. Is a splashy acquisition next?
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