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[Sumitomo Mitsui Financial Group, Inc.]Sumitomo Mitsui Financial Group Obtains Financial Holding Company Status in the United States(1/1)

Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Financial Group Obtains Financial Holding Company Status in the United States

 

Tokyo, May 8, 2013 --- Sumitomo Mitsui Financial Group, Inc. (“SMFG”; President: Koichi Miyata) and Sumitomo Mitsui Banking Corporation (President: Takeshi Kunibe) have received notification from the Board of Governors of the Federal Reserve System that our elections to become Financial Holding Companies (“FHC”) under the U.S. Bank Holding Company Act are effective as of May 7, 2013.

 

SMFG has, to date, engaged in investment banking and securities business in the U.S., such as M&A advisory and brokerage services, through a U.S. subsidiary. By obtaining FHC status, SMFG can significantly expand the scope of services we provide in the U.S., including the underwriting and trading of securities and other investment banking services.

 

SMFG plans to implement numerous initiatives in the near future, including the underwriting of bonds by its subsidiaries, to further enhance the services offered to clients in the U.S., the world’s leading financial market.

 

 




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