First Hawaiian Bank Selected by Mitsubishi UFJ Trust and Banking Corporation
to Provide Corporate Trustee and Successor Trustee Service
to Japanese Citizens
Honolulu, Hawaii September 25, 2008 -- First Hawaiian Bank has signed an agreement with one of Japan's largest trust banks, Mitsubishi UFJ Trust and Banking Corporation, to provide corporate trustee and successor trustee service for the living trusts of Japanese citizens.
The formation of a living trust is a new concept recently introduced to Japan and will assist Japanese citizens owning assets in the U.S. to avoid the lengthy U.S. probate process. Mitsubishi UFJ Trust and Banking Corporation is the first Japanese Bank to assist their Japanese customers in managing and planning for the succession of their U.S. assets.
First Hawaiian Bank was selected as one of three U.S. banks because of its extensive experience in Trust services.
This follows an earlier agreement signed in May 2008 between Mitsubishi UFJ Trust and Banking Corporation and First Hawaiian Bank, allowing First Hawaiian to provide estate settlement services for Japanese citizens.
First Hawaiian has a long history of serving Japanese customers with a wide range of both individual and business services including checking and savings, investments and estate settlement. First Hawaiian Bank's Kapiolani and Waikiki Branches also offer Japanese speaking customer service representatives to assist Japanese speaking clients with all of their financial needs.
About First Hawaiian Bank
First Hawaiian Bank with $12.8 billion in assets (www.fhb.com) was founded in 1858 and is Hawaii's oldest and largest bank. It has 58 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation (www.bancwestcorp.com), a financial holding company.
About Mitsubishi UFJ Trust:
Mitsubishi UFJ Trust and Banking Corporation is the core member and a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. MUTB, Japan's largest trust bank, which has a network of 77 branches and 8 satellite offices in Japan and 5 branches and 2 satellite offices overseas. As of March 2008, MUTB had trust assets of $1.08 trillion (108 yen/U.S. dollar). For more information, visit www.tr.mufg.jp
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