New MUFG unit's goal: Get more tech clients

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Mitsubishi UFJ Financial Group is expanding its investment banking services for the technology industry.

Bill Davidson, who serves as head of the U.S. technology banking team within MUFG’s U.S. wholesale and investment banking group, will now lead the newly created global technology sector division, the company said Monday. The unit is part of the company’s global corporate and investment banking group.

MUFG has been expanding its U.S. investment banking operations in recent years. The company has roughly $157 billion of assets in the U.S. through its unit, MUFG Americas Holdings.

Davidson, who has been with MUFG since 2012, will be responsible for growing a global team of bankers that focus on deepening existing relationships and increasing the group’s roster of technology clients, MUFG said. The bank currently works with more than 175 technology clients globally with more than two-thirds of those based in the U.S.

Davidson will also retain his old role and its responsibilities.

"By selecting Bill to lead this group, our technology-sector clients will gain the benefit of a seasoned banking professional whose keen insights on the global tech industry translate into his ability to deliver useful and innovative financing solutions," said Randall Chafetz, managing executive officer of MUFG’s global corporate and investment banking group.

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