Mitsubishi UFJ Morgan Stanley Securities (MUMSS) aims to increase retail assets under management by 10 trillion yen ($62 billion).
The joint venture between Mitsubishi UFJ Financial Group and Morgan Stanley expects rising interest rates to shift Japanese savings from cash to investments.
MUMSS will hire several hundred additional sales staff to support this strategic expansion.
The initiative targets increased fee income, following a broader trend of rising profitability across Japan’s financial sector.