Japan’s Sumitomo Mitsui Trust Asset Management Co has opened its first office in the US, marking the company’s expansion into the Americas.
The New York office is part of the company’s new unit, Sumitomo Mitsui Trust Asset Management Americas Inc., headed by veteran asset manager Shigeki Katoh as president and chief executive officer, Sumitomo Mitsui Trust says in a statement on July 1.
According to the company, the unit will develop “a new suite of products specifically tailored to the US market based on client demand”, offer “unique” Japanese strategies such as micro-cap equities, conduct research on external products for Japanese investors, and serve as its operational hub for global environmental, social and governance (ESG) activities.
Mr. Katoh, who has 28 years of asset management experience at Sumitomo Mitsui Trust, will report to Yoshio Hishida, the company’s president and representative director.
“Our presence in the US means we’re better positioned to offer US investors access to [Sumitomo Mitsui Trust’s] unique and differentiated investment capability, provide Japanese investors with products previously less accessible, and engage with US companies from an ESG standpoint,” Mr. Katoh says in the statement.
The company has three other overseas offices, in Hong Kong, London and Singapore.
Tokyo-based Sumitomo Mitsui Trust had around US$626 billion of assets under management as of May 2020.