3. Enhancing our overseas securities business
Nikko Cordial Securities (renamed SMBC Nikko Securities Inc. ) had developed its business mostly on domestic retail services, with overseas operations at almost zero, before it became a wholly owned subsidiary of SMBC in October 2009. Upon joining the Group, the new member company started to prepare functions to enter the overseas securities business. For this purpose, a battery of plans was introduced and carried out to build and enhance overseas operations and relevant capabilities, such as personnel, securities trading systems, sales and underwriting skills, and investor relationship, while the company opened offices in major global financial centers.
In May 2013, SMFG and SMBC obtained a status as the financial holding company (FHC) under the relevant U.S. law. The FHC status, together with substantial efforts by the sales staffs, helped expand business such that non-Japanese customers of SMBC increasingly invited the U.S. securities subsidiary to participate in the underwriting syndicate at the time of their bond issuance.
With the increasing needs of both Japanese and non-Japanese large companies for sophisticated global funding methods, SMFG aimed to upgrade its business models to provide solutions to customers in a comprehensive manner by a combination of commercial banking and investment banking products and services, from deposit and loan programs to financing arrangements and M&A advisory. For this purpose, SMFG enhanced overseas banking-securities collaboration as well as strengthening the relationship with investors by offering products derived from project finance and other products in which we boast of having a competitive advantage.
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Chapter 1The Financial Crisis and Realignment of the Financial Sector
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Chapter 2The Birth of SMBC and SMFG
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Chapter 3Initiatives Pursued by SMBC Banking Units in the Early Years
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Chapter 3Initiatives Pursued by SMBC Banking Units in the Early Years
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- Enhancing our retail consulting and payments & consumer finance businesses
- Enhancing corporate financial solutions
- Banking-Securities collaboration in the wholesale securities business
- Challenges facing our global banking business
- Actions by Treasury Unit in preparation for rising interest rates
- Integration of operating systems and administrative functions
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Chapter 4Embarking on Fresh Challenges Under New Leadership
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Chapter 4Embarking on Fresh Challenges Under New Leadership
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- Changes of leadership and the announcement of our new management policy
- Developing group business strategies
- Addressing antitrust issues
- Completing repayment of public funds
- LEAD THE VALUE
- Enhancing our retail financial consulting business
- Enhancing our corporate solution business
- Enhancing our investment banking business
- Global banking business turnaround
- Upgrading risk management in preparation for Basel II
- Development of human resources
- CSR activities
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Chapter 5SMFG’s Response to Global Economic and Financial Turmoil
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Chapter 6Preparing for the Next Decade
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Chapter 1Business Model Reform Under Challenging Business Conditions
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Chapter 1Business Model Reform Under Challenging Business Conditions
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- Our journey under new leadership (the second decade)
- Focusing on growth industries and businesses
- Reforming domestic business operations
- Promoting banking-securities collaboration in Wholesale Banking Unit
- Structural reform of our retail business
- Meeting the needs of an aging society
- Abenomics and Treasury Unit's nimble portfolio management
- Operating in a negative-interest-rate environment
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Chapter 2Enhancing Group Businesses
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Chapter 3Expanding Our Global Business
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Chapter 4Enhancing Corporate Infrastructure Under a New Governance Framework
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Chapter 4Enhancing Corporate Infrastructure Under a New Governance Framework
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- New leadership and enhancing corporate governance
- Introducing group-wide business units and CxO system
- Improving capital, asset, and cost efficiency
- Pursuing our cashless payment strategies
- Retail branch reorganization
- Customer-oriented business conduct
- Enhancing internal-control frameworks
- Valuing diversity and revision of our HR framework
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Chapter 5The Path for Our Future
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Chapter 6Opening a New Chapter in SMBC Group’s History