6. Enhancing our retail financial consulting business

SMBC recognized the financial consulting business for retail customers as a growth business area, and began to carry out an array of measures to upgrade related functions, such as increasing customers’ accessibility to offices through the relocation and renovation of branches in addition to opening new branches. Then, in April 2005, retail branches were divided into two groups: back- and middle-office operations and front-office operations, aiming to boost consulting capabilities of front offices by separating these from back- and middle-office operations. Also, the increased relevant training programs for employees and managers improved their skills and productivity.

In April 2007, SMBC established the Private Advisory (PA) Department as a cross-organizational head-office function that belonged to the Consumer Banking Unit, Middle Market Banking Unit, and Corporate Banking Unit, so that the three units could work together to offer products and services to business owners and their employees.

As for the securities agent business, the bank began the business in December 2004, and it achieved satisfactory results. In September 2006, looking at various needs related to retail wealth management, SMFG made SMBC Friend Securities its wholly owned subsidiary to ramp up banking-securities collaboration activities.