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.
The two banks aim to complete the merger by April 2012, they said in a statement. (Reporting by David Dolan)
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One residual from Timothy Geithner's rough confirmation back in January -- "Turbo Tax Tim" and all that -- is that his political position is probably a bit more precarious than that of the typical newbie treasury secretary. Blog
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