CHARLOTTE, N.C. (AP) - The parent company of Union Bank has opened an East Coast hub in North Carolina's largest city and plans to hire 300 people.

The Charlotte Observer reports that the Americas Holding company of Japan-based Mitsubishi UFJ Financial Services Group said in a news release that the office in downtown Charlotte would house its operations and technology and risk management groups for the Americas, among other functions.

The company cites Charlotte's proximity to colleges and universities as a way to recruit for those jobs.

According to the release, the U.S. operations of Mitsubishi UFJ Financial Group has $339.7 billion in assets, as of March 31. MUFG Union Bank, North America operates 351 branches, including retail bank branches on the West Coast and commercial branches in Texas, Illinois, New York and Georgia.

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