UBS SuMi Set to Acquire Credit Suisse’s Wealth Management Business in Japan, Positioning Itself as a Leading Player in the Competitive Market.

UBS SuMi, a joint venture between UBS and SuMi TRUST Wealth Management Co, announced on Monday that it will be acquiring Credit Suisse’s wealth management business in Japan after Credit Suisse absorbs its struggling rival in 2023. This move will result in the partners rebalancing their investments in the joint venture to maintain the original UBS 51%/SuMi TRUST Holdings 49% ownership structure.

With this acquisition, UBS SuMi aims to enhance its presence and offerings in the Japanese market, solidifying its position as a leading wealth management provider in the region. By integrating Credit Suisse’s wealth management business in Japan, UBS SuMi aims to provide enhanced services and solutions to clients, leveraging the expertise and resources of both organizations to drive growth and success in the competitive Japanese wealth management sector.

This strategic move underscores UBS’ commitment to expanding its footprint and strengthening its wealth management capabilities in key markets around the world. By integrating Credit Suisse’s wealth management business in Japan, UBS SuMi plans to transfer all of Credit Suisse’s advisors and the wealth management assets they oversee in Japan to UBS SuMi following the completion of the UBS and Credit Suisse merger by the end of June.

With the completion of this acquisition, UBS SuMi is poised to become a dominant player in the Japanese wealth management industry, offering a comprehensive range of wealth management services and solutions to meet the evolving needs of high-net-worth individuals and institutions in the region. This strategic partnership between UBS and SuMi TRUST demonstrates a shared commitment to delivering exceptional value and client service in the Japanese market, driving sustainable growth and success for the joint venture.