Sumitomo Mitsui Trust Group is to rebrand Sumitomo Mitsui Trust International, the international business arm of Sumitomo Mitsui Trust Bank (SMTB), under the new name of SuMi Trust as part of the groups international development.
The SuMi TRUST brand will continue to provide market coverage and sales support for SMTBs Japanese equity investment strategies to institutional investors and intermediaries in the UK, Europe, Middle East and Asia. Sumitomo Mitsui Trust Group is creating the new brand identity to highlight the international identity of its newly created business model, which combines banking, asset management, administration and real estate businesses.
The groups Japan-based operations will continue to be called the Sumitomo Mitsui Trust.SMTB was formed by the merger of three of Japan’s leading trust banks – The Chuo Mitsui Trust and Banking Company, Chuo Mitsui Asset Trust and Banking Company, and The Sumitomo Trust and Banking Company, under the umbrella of Sumitomo Mitsui Trust Holdings, in April 2012.
In June, SMTB bought Daiwa Securities Trust & Banking (Europe) (DSTBE) and Daiwa Securities Trust Europe from Daiwa Securities Group. UK-based DSTBE offers custody services mainly for Daiwa Securities Group companies, and DSTEL, as an Ireland-based holding company of fund service providing business, offers fund administration services and trustee services mainly to overseas hedge fund companies through the subsidiaries of DSTEL.
(JDC)