Morgan Stanley anticipates its highest-ever income in Japan, driven by the Bank of Japan’s (BOJ) policy changes reviving the fixed income market. Alberto Tamura, CEO of Morgan Stanley’s venture with Mitsubishi UFJ Financial Group, suggests that ending negative interest rates could further boost client activity, potentially surpassing Nomura Holdings as the top broker. Amid a global trading slump, Morgan Stanley and MUFG are uniquely positioned in Japan’s booming market, supported by Prime Minister Fumio Kishida’s investment initiatives. Despite trailing Nomura in revenue, the firms, strengthened by a USD9bn MUFG investment in 2008, are enhancing collaboration, but not planning a full merger. Tamura envisions leveraging Japan’s asset management potential and increasing household investments, aligning with outgoing CEO James Gorman’s long-term vision for the alliance.
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