Sumitomo Mitsui Banking Corporation
Nikko Cordial Securities Inc.
Barclays Bank PLC

Commencement of Joint Private Banking Operation in JapanTokyo, July 1, 2010---Sumitomo Mitsui Banking Corporation (President: Masayuki Oku, hereinafterreferred to as “SMBC”) and Nikko Cordial Securities Inc. (President: Eiji Watanabe, hereinafter referred toas “Nikko Cordial”), a wholly-owned subsidiary of SMBC, and Barclays Bank PLC (Group Chief
Executive: John Varley, hereinafter referred to as “Barclays” including group companies) have agreed tocommence joint operation in private banking in Japan.
Prior to the agreement, SMBC, Nikko Cordial and Barclays established “SMBC Barclays Wealth Division”(hereinafter referred to as “Barclays Div.”) within Nikko Cordial. With effect under the business model, we
provide investment solutions through Barclays Div. to clients introduced by SMBC, utilizing the uniquestrengths and the know-how of Barclays Wealth, a leading global wealth manager part of the Barclays
group.
We will initially launch the private banking services in the urban centers of Tokyo, Yokohama and Osaka,and gradually enhance services and locations.
1. Investment Solution(1)ProductsWe will offer clients an open architecture selection of products through Barclays Div. and utilize
the global know-how of Barclays Wealth, in addition to existing products of Nikko Cordial. As for
product sourcing, we will use the expertise of Barclays Capital, the investment banking unit
operated by Barclays in Japan, along with that of Nikko Cordial and Barclays Wealth, and develop
product lineup.
We will tap the marketing know-how of Barclays Wealth, including product strategies that take into
account the investment trend of overseas high net worth clients, and Barclays’ global researchcapabilities to develop product strategies.

1(2)Business Tools
We will provide consistent services to clients led by Barclays Wealth’s highly innovative
Investment Philosophy combining rigorous client assessment and advanced portfolio construction
techniques to tailor the performance through introducing Barclays Wealth’s tools which utilizes
Barclays Wealth’s expertise in the field of behavioural finance, as well as utilize Barclays’ research
reports and other tools.
(3)Highly Specialized Human Resources
Human resources highly specialized in various areas such as sales, marketing, productdevelopment and operational support have been seconded to Barclays Div. from SMBC, Nikko
Cordial and Barclays Wealth.
These specialists will work together, making use of their expertise, and deliver high quality
investment solutions to clients as a team of professionals.
Through these ways, SMBC, Nikko Cordial and Barclays will provide a full set of investment solutions
that meet various investment needs and preferences of our clients.
2. Establishment of “SMBC Barclays Wealth Service Co., Ltd.”“SMBC Barclays Wealth Service Co., Ltd.” has been established on March 1, 2010 to support
Barclays Div.’s business. It customizes Barclays Wealth’s overseas business tools and research papers
to be suitable for Japanese clients. SMBC owns 50.1% and Barclays does 49.9% of its shares.
(as of July 1, 2010)
Name

SMBC Barclays Wealth Service Co., Ltd.

Head Office

1-3, Yurakucho 1-chome, Chiyoda-ku, Tokyo, Japan

Capital Stock¥30 million

Shareholders

Sumitomo Mitsui Banking Corporation 50.1％
Barclays Wealth Services Co., Ltd. 49.9%

Establishment Date

March 1, 2010

President

Yasuhiro Oota

BusinessProvision and translation of business tools and research information, etc.
- End -2[Reference] About Barclays and Barclays Wealth
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporatebanking, investment banking, wealth management and investment management services, with an extensive
international presence in Europe, the Americas, Africa and Asia. With over 300 years of history andexpertise in banking, Barclays operates in over 50 countries and employs approximately 144,000 people.
Barclays moves, lends, invests and protects money for over 48 million customers and clients worldwide.
Barclays Wealth is the wealth management division of Barclays.
Barclays Wealth is a leading global wealth manager, and the UK’s largest, with total client assets of£151.2bn, as at 31 December 2009. With offices in over 20 countries, Barclays Wealth offers international
and private banking, investment management, fiduciary services and brokerage to high net worth clientsaround the world.
For further information about Barclays and Barclays Wealth, please visit websites below.
http://group.barclays.com/Home
www.barclayswealth.com

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