An investment banking power in the making?

There was a time when traditional investment banks really feared the entry of the commercial banks into their once Glass Steagall-protected space. Given the most recent round of earnings, it's clear that Goldman Sachs and Morgan Stanley have little to fear from Bank of America and Citigroup. Is Mitsubishi UFJ Securities destined to be different? The investment banking subsidiary of Mitsubishi UFJ Financial Group is the world's largest bank by some measures. It aims to become a world power. It recently hired Joseph Schmuckler as CEO to manage an international expansion, according to Investment Dealers' Digest. Apparently, it aims to build on its asset management experience to leverage itself into the capital markets and investment banking markets. It has fared well in Japan with Samurai bonds and IPOs and likely will do so elsewhere in Asia soon.  

For more:
- here's the Investment Dealers' Digest article

Related article:
- Alternative investment firms to rethink IPOs?