Mitsubishi UFJ Financial Group to acquire a 15.5% stake in WealthNavi for $104m.

Mitsubishi UFJ Financial Group, a global financial services group and one of the largest banking institutions in Japan, agreed to acquire a 15.5% stake in WealthNavi, a platform for asset managers which uses risk management algorithm for asset management advice, for $104m. This capital and business alliance aims to leverage MUFG Bank‘s extensive customer network and WealthNavi’s expertise in automated investment advice to enhance the financial offerings available to consumers.