Societe Generale has agreed to buy J.P. Morgan Chase & Co.’s trust bank in Japan. The renamed SG Private Banking (Japan) Ltd. will manage assets of about 300 billion yen ($2.4 billion). No price was disclosed. The French bank aims to use the acquisition to expand its private banking business in Japan.
JPMorgan Sells Japan Trust Bank to Soc Gen
Societe Generale has agreed to buy J.P. Morgan Chase & Co.'s trust bank in Japan. The renamed SG Private Banking (Japan) Ltd. will manage assets of about 300 billion yen ($2.4 billion). No price was disclosed. The French bank aims
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