Lun, 8 Avr 2024
A collaboration between UBS and Sumitomo Mitsui Trust, bolsters its market position by acquiring Credit Suisse’s wealth business in Japan.
UBS and Sumitomo Mitsui Trust Holdings have broadened their joint venture, UBS SuMi TRUST Wealth Management, by integrating Credit Suisse’s wealth management division in Japan selon un communiqué de presse.
This acquisition marks a significant step in Japanese wealth management, bolstering UBS SuMi’s position in the industry.
Post-merger, UBS SuMi will incorporate Credit Suisse’s wealth management assets and advisors in Japan. This transition aligns with the UBS and Credit Suisse merger, expected to finalise by June 2024.
The integration solidifies UBS SuMi’s leading role in Japan’s wealth management sector, bringing in a wealth of expertise and resources from Credit Suisse.
Zenji Nakamura, President of UBS SuMi and UBS’s Japan Country Head, highlighted the acquisition’s significance, noting it as a reinforcement of their joint venture’s effectiveness and a forward-looking step in the realm of Japanese wealth management.
UBS’s global footprint as a premier wealth manager is further strengthened by this acquisition, with the firm managing over $5.7 trillion in assets as of the fourth quarter of 2023.
The integration of Credit Suisse’s wealth management business into UBS SuMi is more than a strategic expansion; it represents a commitment to excellence and confidence in the Japanese wealth management market’s growth potential.
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