NEW YORK--(EON: Enhanced Online News)--Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world’s leading financial institutions, today announced it has taken a significant step in enhancing its Asset-Based Finance (ABF) business in the Americas by hiring Edward Gately as a Managing Director to lead the group.
“Ed brings the right blend of skills, experience, and passion that are necessary to effectively lead this critical product area.”
MUFG’s ABF franchise specializes in formula-driven revolving lines of credit, and term loans based on eligible assets including accounts receivable, inventory, equipment, and owner-occupied real estate. A unit of MUFG’s Investment Banking group, ABF provides flexibility for rapid growth, acquisitions, and turnarounds for commercial and corporate clients.
Mr. Gately will report to Jon Lindenberg, MUFG’s Deputy Head of Investment Banking for the Americas.
“Adding Ed to MUFG’s investment banking team will provide a tremendous boost to our asset-based finance business, while enhancing our relationships across the bank’s broad client base,” Mr. Lindenberg said. “Ed brings the right blend of skills, experience, and passion that are necessary to effectively lead this critical product area.”
Mr. Gately joins MUFG after 12 years at HSBC Bank USA, where he was head of the Asset-Based Lending business. While at HSBC, Mr. Gately was responsible for a national specialty lending business with $8 billion in commitments, and $90 million in annual U.S. revenues.
Before HSBC, Mr. Gately spent nearly 20 years with Bank of America and one of its legacy institutions, Fleet Bank. In his most recent position at Bank of America, he managed a specialty lending unit with more than 50 employees, $2 billion in commitments, and over $30 million in annual U.S. revenues.
Mr. Gately holds a B.S. degree in accounting and finance from Providence College.
About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company and bank holding company with total assets of $148.1 billion at December 31, 2016. Its main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of December 31, 2016, MUFG Union Bank, N.A. operated 365 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as two international offices. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, private placements, collateralized financings, securities borrowing and lending transactions, and domestic and foreign debt and equities securities transactions. MUFG Americas Holdings Corporation is owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial groups. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. Visit www.unionbank.com or www.mufgamericas.com for more information.
About MUFG (Mitsubishi UFJ Financial Group, Inc.)
MUFG (Mitsubishi UFJ Financial Group, Inc.) is one of the world's leading financial groups, with total assets of approximately $2.6 trillion (USD) as of December 31, 2016. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with more than 2,200 offices in nearly 50 countries. The Group has more than 140,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group's operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan's leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan's largest securities firms. Through close partnerships among our operating companies, the Group aims to "be the world's most trusted financial group," flexibly responding 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 (MTU) stock exchanges. Visit www.mufg.jp/english/index.html.