Sumitomo Mitsui Trust to Ally With US Firm Raymond James (1)

Sumitomo Mitsui Trust Group Inc.said it’s agreed to collaborate with Raymond James Financial Inc. of the US, in the latest move by a Japanese financial firm to seek more growth abroad.

The Tokyo-based bank may work with Raymond James in areas such as finance, mergers and acquisitions, real estate transactions and asset management, the Japanese firm said in a statement with its banking unit. The US company oversees about $1.8 trillion in client assets, and serves clients including medium-sized businesses and high net-worth individuals, according to the statement.

Sumitomo Mitsui Trust’s statement confirms remarks reported earlier by Bloomberg ...