Sumitomo Mitsui Trust Asset Management (SuMi Trust) has established a new subsidiary and office in Singapore.
Per SuMi Trust, the new location is intended to take advantage of “Singapore’s exceptional business environment and strategic location” and status as “one of Asia’s premier international financial centres”. It is seeking to use the new subsidiary to target the rapidly growing Asian region, and it is the latest part of the firm’s global strategy following the opening of an office in Luxembourg.
Go deeper with GlobalData
Operating under the name Sumitomo Mitsui Trust Asset Management Singapore Private Limited (SuMiTAMS), the new office launched on Wednesday (July 9) and represents the company’s entry into the Asian market, excluding Japan.
The new subsidiary is focused on institutional investors throughout Southeast Asia and the Pacific, and it has launched with a team of six specialists delivering investment research and client services.
Takeshi Narita, who has been associated with the company in Singapore since 2022, will assume the role of CEO of SuMiTAMS and lead the team.
Yoshio Hishida, CEO of SuMi Trust, said: “Having boots on the ground in Singapore means we can offer local investors access to our quality global network of client-focused services. Through SuMiTAMS, we will be able to serve new clients and build closer relationships with existing customers by leveraging our strength in providing tailor-made solutions.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSuMi Trust also has offices in Europe (London) and North America (New York).
