The Japanese wealth management joint venture between UBS and Sumitomo Mitsui Trust Holdings has opened for business.
UBS SuMi Trust Wealth Management launched its operations on 10 August 2021, it said in a statement.
It has offices across Japan in Tokyo, Osaka and Nagoya and will be run by president and representative director Victor Chang.
The wealth management firm will offer a range of services including inheritance, wealth transfer and real estate brokerage.
Around 51% of the JV is owned by UBS and the other 49% is owned by Sumi Trust Holdings.
The deal was first reported by International Adviser in 2019.