Bankers Create Biggest Trust Bank Group in Japan

Sumitomo Trust and Banking Co. and Chuo Mitsui Trust Holdings Inc. <8309> will integrate their operations under a holding company on Friday to create the biggest trust bank group in Japan.

The new holding company, Sumitomo Mitsui Trust Holdings Inc., will have Sumitomo Trust, Chuo Mitsui Trust and Banking Co., and Chuo Mitsui Asset Trust and Banking Co. under its wing.

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