UnionBanCal Corporation (approx 63% in Feb 2005; 68% in 2004; 100% in 2008) Chong Hing Bank (9.66%) Morgan Stanley (22.41%). On September 29, 2008, Mitsubishi UFJ Financial Group announced that it would acquire a shareholding in Morgan Stanley for US$9 billion. In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994.