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Manila Bulletin devider devider MUFG Bank makes PH its global services operations hub

MUFG Bank makes PH its global services operations hub

Published May 7, 2018 12:00 am
By Bernie Cahiles-Magkilat MUFG Bank, Ltd., member of global financial group MUFG of Japan, has established its Global Services Operations Center in Manila to further improve the productivity of its operations in overseas units and to develop efficient operations platform to support its transaction banking business. In a statement, the Japanese bank said it decided to set up its GSOC in Manila following a preliminary study of the centralization of operations in the Asian region started in April 2015. The bank also cited the Philippines’ large English-speaking population. Another compelling reason was that business process outsourcing (BPO) contributes a great deal to the country’s yearly gross domestic product, and many foreign companies have set up their operation centers in the Philippines. Kanetsugu Mike, MUFG Bank’s President and CEO said: “This is our first centralized operations center covering different countries, and it is aligned with our strategy to strengthen our competitiveness. I wish to underscore our ongoing commitment to the development of this great nation.” The GSOC located along Ayala Avenue in Makati City is expected to start operations on August 20, 2018 with estimated initial staff complement of 50. GSOC will contribute to the establishment of a solid operations foundation by standardizing and improving the quality of operations in Asian region. With the opening of the GSOC, MUFG intends to continue working to further fulfill customers’ various needs. For a start, some operations will be transferred from MUFG’s Singapore office to GSOC. MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning around 50 countries. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. MUFG Bank’s parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 2,000 offices in more than 50 countries. The Group has over 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. On April 1, 2018 the name of MUFG’s commercial bank has been changed from “Bank of Tokyo-Mitsubishi UFJ, Ltd.” to “MUFG Bank, Ltd.” Many of the bank’s overseas subsidiaries followed suit on the same day, but branches and subsidiaries in some countries will carry out the name change at a later date. MUFG’s New York Stock Exchange ticker has been changed also to “MUFG.”
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