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Japanese Firm Has Expansion Plans for 2013

Mar 10, 2013
Jing Chen

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.

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