Mitsubishi UFJ Financial Group Inc. says it is "evolving" beyond its traditional niche as a financer of energy projects in an effort to take on big lending rivals like Wells Fargo and J.P. Morgan in the market for receivables finance and asset-based lending.

In an interview with Bloomberg News, Jonathan Lindenberg MUFJ's Deputy Head of Investment Banking for the Americas, said the company's expansion strategy will include underwriting and selling more debt in the U.S. to investors rather than holding the loans on its books, and for “playing a bigger role” in high-yield bonds and leveraged loans.
 
“There are a lot of growth areas," Lindenberg told Bloomberg. "We’re just tapping right now where many people already exist.”

Among the area the bank is exploring is taking a greater position in the equipment-financing sector, including financing for aircraft purchases, Lindenberg said.

Lindenberg was named MUFJ's Head of Structured Finance for the Americas in 2009 and last year was promoted to his position as deputy head of investment banking based in New York.