Sumitomo Mitsui Trust : Notice Regarding Integration of Wealth Management Business of Credit Suisse Securities (JAPAN) Limited by UBS SuMi TRUST Wealth Management Co., LTD. (163KB)

April 8, 2024

To whom it may concern

Sumitomo Mitsui Trust Holdings, Inc.

Sumitomo Mitsui Trust Bank, Limited

U B S S ec u r i t i e s J a p an C o . , L t d .

Notice Regarding Integration of Wealth Management Business of

Credit Suisse Securities (JAPAN) Limited

by UBS SuMi TRUST Wealth Management Co., LTD.

Sumitomo Mitsui Trust Holdings, Inc., (Director, President & CEO: Toru Takakura, hereinafter "SuMi TRUST Holdings") and UBS Securities Japan Co,.Ltd., (President: Zenji Nakamura, hereinafter "UBS SJ") today announced that UBS SuMi TRUST Wealth Management Co., Ltd. (hereinafter "UBS SuMi TRUST Wealth Management"), their wealth management joint venture, will acquire wealth management business of Credit Suisse Securities (Japan) Limited (hereinafter "CS JL").

UBS SuMi TRUST Wealth Management confirmed that the wealth management assets CS JL manages in Japan will be transferred to UBS SuMi TRUST Wealth Management, following the merger of UBS AG and Credit Suisse AG which is expected to be completed by the end of June 2024. Employees in wealth management division of CS JL, including client advisors will join UBS SuMi TRUST Wealth Management as new members.

After the integration, the capital structure of UBS SuMi TRUST Wealth Management will remain unchanged with UBS SJ 51% and SuMi TRUST Holdings 49%. This underscores the positive outlook of both UBS SJ and SuMi TRUST Holdings that the business will continue to grow through the unwavering partnership.

UBS Group (headquartered in Switzerland) and Sumitomo Mitsui Trust Group have established UBS SuMi TRUST Wealth Management through capital and business alliance for wealth management business in Japan, and began operations on August 10, 2021. Since then, UBS SuMi TRUST Wealth Management has been a top brand in the global wealth management business and has been providing world-class wealth management services from UBS Group, which has a proven track record in Japan, as well as Sumitomo Mitsui Trust Bank, Limited, (President: Kazuya Oyama) one of the largest domestic trust banks has provided clients with a wide range of products and services such as inheritance and succession measures, and real estate.

UBS SuMi TRUST Wealth Management 's business model in Japan is highly rated overseas as well. UBS SuMi TRUST Wealth Management was recently named '2024's Best International Private Bank in Japan' by Euromoney magazine.

By integrating wealth management business of CS JL, UBS SuMi TRUST Wealth Management will establish a firm position in wealth management industry in Japan in terms of assets under management. In response to the diverse needs of clients, we will provide appropriate solutions that go beyond just providing products, which only UBS SuMi TRUST Wealth Management can offer, and promote high-quality wealth management service.

Outline of UBS SuMi TRUST Wealth Management

For further information, please contact:

Public Relations Department, Sumitomo Mitsui Trust Holdings, Inc.

Telephone : +81-3-6256-6302

Japan Corporate Communications, UBS Securities Japan Co., Ltd.

Telephone : +81-3-5208-6600