Sumitomo Mitsui Trust Asset Management Establishes a Singapore-Based Subsidiary
**Sumitomo Mitsui Trust Asset Management Expands into Singapore**
Sumitomo Mitsui Trust Asset Management (SuMi Trust) has made a strategic move to establish a significant presence in Asia with the launch of its wholly owned subsidiary, Sumitomo Mitsui Trust Asset Management Singapore (SuMiTAMS). The new entity, which began operations on July 9, 2025, marks SuMi Trust's first office outside Japan in Asia [1][3][5].
Located in Singapore, a premier international financial center and a rapidly growing market, SuMiTAMS is poised to serve as a regional hub for institutional investors and high-net-worth individuals throughout Southeast Asia and the Pacific [1][3][5]. The strategic decision to set up in Singapore was driven by the city-state's exceptional business environment and its status as a key player in the Asian financial market.
Equipped with its own investment research and client service capabilities, SuMiTAMS is ready to deliver a diverse range of high-quality investment products. The Singapore office serves as a regional operational base, facilitating local client engagement and closer relationships with existing customers by providing tailored investment solutions [1][3][5].
In addition to strengthening its regional presence, SuMi Trust aims to leverage SuMiTAMS as a hub to promote collaboration across its global network of offices, which already includes locations in Europe (London) and North America (New York). This synergy is designed to integrate and strengthen their global research and client services, bringing a more localized presence to the Asian market while maintaining high standards of investment expertise [1][3].
The broader Sumitomo Mitsui Financial Group is also focusing on a tech-forward strategy in Asia. With substantial investments of $5.5 billion into AI-driven financial services, the group aims to implement advanced AI capabilities that improve efficiencies and innovation in financial products and services. SuMiTAMS in Singapore will play a crucial role in this endeavour, with partnerships with technology leaders like Microsoft [2].
### Background
Last month, Sumitomo Mitsui Financial Group and SBI Holdings announced a wealth management joint venture. The joint venture, which is expected to be set up by July 2025, pending regulatory clearance, aims to strengthen the capabilities of Sumitomo Mitsui Financial Group's Olive platform [4]. The new company will be jointly owned by SMBC Nikko Securities, SBI Securities, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Financial Group, and SBI Holdings [4].
SuMiTAMS, as a fully owned subsidiary of Sumitomo Mitsui Trust Asset Management, brings comprehensive investment research and client service capabilities to the table. Takeshi Narita has been appointed as the CEO of SuMiTAMS [1].
This expansion highlights SuMi Trust’s commitment to strengthening its footprint in Asia, enhancing its global investment platform through local presence, client engagement, and technology-driven innovation [1][2][3][5].
- Takeshi Narita, as the CEO of Sumitomo Mitsui Trust Asset Management Singapore (SuMiTAMS), will oversee the delivery of a diverse range of high-quality investment products, integrating AI-driven capabilities for improved efficiencies and innovation in finance and wealth management.
- The wealth management sector will witness growing synergy as SuMi Trust leverages SuMiTAMS as a hub to promote collaboration across its global network, ultimately bringing a more localized presence to the Asian market while offering tailored investment solutions for institutional investors and high-net-worth individuals.
