Standard Life Investments and Sumitomo Mitsui Trust Bank Strengthen Collaboration
14 June 2016
Standard Life Investments, the global asset manager, and Sumitomo Mitsui Trust Bank, Limited, one of the largest banking groups in Japan, have signed a new memorandum of understanding (“MOU”)* in London, reaffirming both companies’ dedication to collaborating further and driving forward mutually beneficial opportunities.
Standard Life Investments and Sumitomo Mitsui Trust Bank, Limited have had a long-standing relationship since forging a strategic alliance in 2010. The non-exclusive partnership provides for long-term cooperation in the key areas of research, investment management as well as product marketing and distribution.
Building on the collective investment management strengths, the alliance has seen Standard Life Investments advising on Sumitomo Mitsui Trust Bank’s global equity strategies and the latter advising on Standard Life Investments’ Japan equity strategies for over five years, while broadening each other’s distribution channels globally.
Neil Slater, CEO and Representative Director of Standard Life Investments Japan, said, “The strategic alliance with Sumitomo Mitsui Trust Bank has been a significant part of Standard Life Investments’ global business and proven a robust partnership. Over the past years, we have achieved great success working together. With a shared commitment to serving the increasingly sophisticated needs of Japanese and global investors, we are delighted to take this relationship to the next level and looking forward to exploring future development opportunities.”
* In 2010, Standard Life Investments entered into a strategic alliance with Chuo Mitsui Asset Trust and Banking Company Limited, the latter merged with The Sumitomo Trust & Banking Co., Ltd. and became Sumitomo Mitsui Trust Banking, Limited in 2012.