Japan’s biggest bank Mitsubishi UFJ Financial Group said on Monday that it would cut 1 000 jobs and close 50 branches over three years.

Mitsubishi UFJ Financial Group has bought a 21% stake in Wall Street bank Morgan Stanley for $9-billion, the companies said on Monday.

Shares of Citigroup rose 5% in their debut on the Tokyo bourse on Monday, a day after the United States bank’s head resigned to take responsibility for spiralling losses on…