Sumitomo Mitsui Trust Asset Management, under the leadership of president Yoshio Hishida, has launched its Singapore subsidiary, Sumitomo Mitsui Trust Asset Management Singapore (SuMiTAMS).
The new entity, which has begun operations, marks the firm’s first office in Asia outside of Japan, complementing its locations in London and New York.
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SuMiTAMS, a fully owned subsidiary, has “comprehensive” investment research and client service capabilities, noted the company.
The Singapore office is intended to serve as the operational hub for the company’s activities in the growing Asian market, offering a diverse range of investment products.
Additionally, it aims to enhance the company’s global investment platform through collaboration with its international offices.
The company also highlighted Singapore’s business environment and strategic location, which it said has helped the destination become Asia’s premier international financial centre, drawing institutional investors and high-net-worth individuals.
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By GlobalDataLast month, Sumitomo Mitsui Financial Group SMFG and SBI Holdings announced a wealth management joint venture (JV).
This initiative aims to strengthen the capabilities of Sumitomo Mitsui Financial Group’s Olive platform, which integrates banking, payment, and investment services.
At the time, it was said that a preparatory company will be set up by July 2025, pending regulatory clearance, with operations starting in spring 2026.
The new company will be jointly owned by SMBC Nikko Securities (30%), SBI Securities (30%), Sumitomo Mitsui Banking Corporation (20%), Sumitomo Mitsui Financial Group (10%), and SBI Holdings (10%).
