Last updated: 12:40 / Friday, 10 May 2013
Expand their service in the US

Sumitomo Mitsui Financial Group Obtains Financial Holding Company Status in the US

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Sumitomo Mitsui Financial Group Obtains Financial Holding Company Status in the US

Sumitomo Mitsui Financial Group (SMFG, presidente Koichi Miyata) and Sumitomo Misui Banking Corporation (president: Takeshi Kunibe) have received notification from the Board of Governors of the Federal Reserve System that our elections to become Financial Holding Companies (FHC) under the U.S. Bank Holding Company Act are effective as of May 7, 2013, said the firm in a statement.

SMFG has to date, engaged in intestment banking and securities business in the U.S., such as M&A advisory and brokerage services, through a U.S. subsidary. By obtaining FHC status, SMFG can significantly expand the scope of services we provide in the U.S. including the underwriting and trading of securities and other investment banking services.

SMFG plans to implement numerous iniciatives in the near future, including the underwriting of bonds by its subsidiaries, to futher enhance the services offered to clients in the U.S., the world´s leading financial market.

 

 

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