TOKYO and NEW YORK, April 11,
2011 /PRNewswire/ -- BNY Mellon, the global leader in
investment management and investment services, has been appointed
by Chuo Mitsui Trust Holdings, Inc. ("CMTH") and The Sumitomo Trust
and Banking Company, Limited ("STB") as the depositary bank for the
American depositary receipt (ADR) program for their newly combined
entity, Sumitomo Mitsui Trust Holdings, Inc. ("SMTH"). CMTH
and STB were integrated into SMTH on April
1, 2011.
SMTH's sponsored ADR program succeeds STB's existing sponsored
ADR program, for which BNY Mellon was also the depositary bank.
Every SMTH ADR represents one ordinary share and trades on
the OTC market under the symbol "SUTNY." SMTH's ordinary
shares trade on the Tokyo Stock Exchange under the new combined
code "8309."
"Both Chuo Mitsui Trust and Sumitomo Trust and Banking were
highly respected in Japan and
around the world. Their decision to combine their ADR
programs and continue to make the new program available to U.S.
investors shows their commitment to their combined global
shareholder base," said Michael Cole-Fontayn, chief executive
officer of BNY Mellon's Depositary Receipts business.
Sumitomo Mitsui Trust Holdings, Inc. is a holding company
established jointly by Chuo Mitsui Trust Holdings and Sumitomo
Trust and Banking. As a financial group the bank provides
trust, banking, real estate, asset management and related financial
services.
BNY Mellon has been servicing Japanese institutions for almost
100 years and last year celebrated its 40th anniversary in
Japan. The company opened
its first office in Tokyo in 1970
via the Irving Trust Company (which merged with Bank of
New York in 1988) and was granted
a branch license in 1973. BNY Mellon provides a wide variety
of products and services to Japanese institutional and wholesale
marketplace including asset management, securities servicing and
corporate trust.
BNY Mellon acts as depositary for more than 2,100 American and
global depositary receipt programs, acting in partnership with
leading companies from 67 countries. With an unrivaled commitment
to helping securities issuers succeed in the world's rapidly
evolving financial markets, the company delivers the industry's
most comprehensive suite of integrated depositary receipt,
corporate trust and stock transfer services. Learn more at
www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on
helping clients manage and service their financial assets,
operating in 36 countries and serving more than 100 markets.
BNY Mellon is a leading provider of financial services for
institutions, corporations and high-net-worth individuals, offering
superior investment management and investment services through a
worldwide client-focused team. It has $25.0 trillion in assets under custody and
administration and $1.17 trillion in
assets under management, services $12.0
trillion in outstanding debt and processes global payments
averaging $1.6 trillion per day.
BNY Mellon is the corporate brand of The Bank of New York
Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee.
SOURCE BNY Mellon