Japanese trust bank SuMI Trust has big plans for its asset services unit in 2013.
Joost Lobler, the head of sales for Asia for SuMI, told Asia Pacific Intelligence--an affiliate of Opalesque -- that the division will expand across the Asia-Pacific region, with new teams and additional staff in Hong Kong and Japan. The article said that SuMI, which has about $700 billion in assets, is planning to transform its current office in Hong Kong to "to a full operation hub for the Asian time zone."
SuMI's asset services unit specializes caters to a variety of financial clients, including hedge funds. It is also the only Japanese bank that owns a global fund administrator, which has now expanded into offshore fund administration.