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Sumitomo Mitsui Trust, Mizuo Financial to discuss merging asset management firms

( March 29, 2017, 08:22 GMT | Official Statement) -- MLex Summary: Sumitomo Mitsui Trust Holdings, Mizuho Financial Group, Resona Holdings and Dai-ichi Life Holdings have agreed to start negotiations in preparation for a merger of Japan Trustee Services Bank and Trust & Custody Services Bank. Sumitomo Mitsui Trust and Resona own Japan Trustee Services Bank. Mizuho Financial Group and Dai-ichi Life are the two biggest shareholders of Trust & Custody Services Bank. The merger would require approval by Japanese and foreign regulatory authorities. ...

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