Sumitomo Mitsui to Acquire Societe Generale Private Banking Japan

July 31, 2013

On July 24, 2013, Tokyo-based Sumitomo Mitsui Banking Corporation announced that it will acquire Societe Generale Private Banking Japan Ltd., the Tokyo-based wholly owned subsidiary of French Societe Generale.

On July 24, 2013, Sumitomo Mitsui Banking Corporation (“SMBC”) announced it had agreed to purchase all of the shares of Societe Generale Private Banking Japan Ltd.  The financial terms of this transaction were not disclosed.  The acquisition of Societe Generale Private Banking Japan will expand SMBC’s wealth management and investment advisory businesses for high net worth individuals. 

Societe Generale Private Banking Japan is a trust bank headquartered in Tokyo that provides private banking services, including wealth management, portfolio management, investment and trust services, to high net worth clients.  Societe Generale Private Banking Japan has approximately JPY 407.9 billion in assets under management.

To read the press release, please click here.


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Investment Manager M&A, Transactions