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Japan's Sumitomo Trust, Chuo Mitsui say to merge

Fri Nov 6, 2009 2:05am EST

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TOKYO, Nov 6 (Reuters) - Sumitomo Trust and Banking (8403.T) and Chuo Mitsui Trust Holdings (8309.T) said they plan to merge, creating Japan's largest trust bank and gaining scale to better compete in a crowded asset management industry.

Stocks  |  Mergers & Acquisitions  |  Japan  |  Financials

The two banks aim to complete the merger by April 2012, they said in a statement. (Reporting by David Dolan)

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