Moelis, the independent US investment bank, has agreed an alliance with Japan’s Sumitomo Mitsui Banking Corporation to provide services to Japanese clients, reports the FT. In an internal announcement, Moelis this week said it had agreed a non-exclusive partnership with Sumitomo, and its Nikko Cordial brokerage unit, to co-operate on providing global investment banking services to Japanese companies. The alliance should allow Moelis to tap into Sumitomo’s relationships with corporate Japan. Sumitomo, through Nikko, has been expanding investment banking operations globally, taking aim at Nomura, the market leader in advising Japanese companies on dealmaking. Sumitomo Mitsui Financial Group, which owns SMBC, is Japan’s second-largest bank by market value.

This entry was posted by Gwen Robinson on Friday, March 4th, 2011 at 3:59 and is featured in The 6am Cut London (4 Mar 2011) . Tagged with moelis, nikko cordial, SMBC, Sumitomo Mitsui Banking. Edit this entry.