Union Bank in San Francisco and its Japanese parent company plan a series of changes to its corporate names and structure, all in response to the Federal Reserve Board's plan to overhaul the way it supervises foreign banks.

Mitsubishi UFJ Financial Group (MBFJF) said Friday that it will combine the $105 billion-asset Union Bank with its Bank of Tokyo-Mitsubishi UFJ branches in the U.S. into a single company to be called MUFG Union Bank. Mitsubishi also plans to replace the UnionBanCal holding company, which owns Union Bank, with a new entity to be called MUFG Americas Holdings.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.