UBS: unveils strategic deal in Japan to target ultra-wealthy

(CercleFinance.com) - UBS today announced plans to launch a strategic wealth management partnership with Japan's largest trust bank Sumitomo Mitsui Trust Holdings, which will target rich clients.


Both companies have agreed to form a joint venture, that will be 51%-owned by UBS, offering products, investment advice and services.

The joint venture will open UBS' current customer base to Japanese real estate and trust services, the Swiss investment bank said.

Meanwhile, SuMi Trust Holdings' ultra-wealthy clients will have access to UBS' wealth management services, including securities trading, research, and advisory capabilities.

Copyright (c) 2019 CercleFinance.com. All rights reserved.