Sumitomo Mitsui Banking Corporation

First Busey Corporation Finalizes Acquisition of Merchants and Manufacturers Bank Corporation and Merchants and Manufacturers Bank

Retrieved on: 
Monday, April 1, 2024
Culture, Busey Bank, MSA, Partnership, FDIC, Trust, Acquisition, M&M, Merchant, Sumitomo Mitsui Banking Corporation, Workforce, Bank

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024.

Key Points: 
  • CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024.
  • Busey will operate M&M Bank as a separate banking subsidiary of Busey until it is merged with Busey Bank, which is expected to occur in June 2024.
  • M&M Bank was founded in 1969 as a locally-owned bank valuing its roles and responsibilities as a community bank, bringing a focused expertise in business banking.
  • ArentFox Schiff LLP served as legal counsel and Keefe, Bruyette & Woods, Inc., a Stifel Company served as financial advisor to M&M.

First Busey Corporation and Merchants and Manufacturers Bank Corporation Announce Election Deadline

Retrieved on: 
Tuesday, March 26, 2024
Florida Trend, Culture, Letter, Busey Bank, Pension, M&M, Merchant, Sumitomo Mitsui Banking Corporation, American Banker

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024.

Key Points: 
  • CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024.
  • As of December 31, 2023, First Busey Corporation (Nasdaq: BUSE) was a $12.28 billion financial holding company headquartered in Champaign, Illinois.
  • Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation, had total assets of $12.25 billion as of December 31, 2023, and is headquartered in Champaign, Illinois.
  • Busey Bank is honored to be named among America’s Best Banks by Forbes magazine for the second consecutive year.

Jefferies and SMBC Expand Strategic Alliance to Canada

Retrieved on: 
Thursday, April 4, 2024
Banking, Professional Services, Finance, Sumitomo Mitsui Banking Corporation, JEF, SMBC, Research, SMFG, Jefferies Financial Group, Multimedia

Jefferies Financial Group Inc. (NYSE: JEF) (“Jefferies”) and SMBC Group announced today that they have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market.

Key Points: 
  • Jefferies Financial Group Inc. (NYSE: JEF) (“Jefferies”) and SMBC Group announced today that they have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market.
  • SMBC Group comprises Sumitomo Mitsui Financial Group, Inc. (NYSE: SMFG) (“SMFG”), Sumitomo Mitsui Banking Corporation (“SMBC”), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., and other group companies.
  • In support of the initial strategic alliance in 2021, SMBC provided $2.25 billion in financing to Jefferies and purchased approximately 4.5% of the outstanding common shares of Jefferies.
  • Bruce Rothney, CEO of Jefferies Canada, stated: “In just the first few months since opening Jefferies’ new Canada office, we have already witnessed the benefits that the Jefferies-SMBC strategic alliance will bring to our valued clients.

Rayliant Partners with Sumitomo Mitsui DS Asset Management to Launch Rayliant SMDAM Japan Equity ETF (RAYJ)

Retrieved on: 
Thursday, April 4, 2024
Banking, Asset Management, Professional Services, Finance, CIO, ETF, Data science, Partnership, EM, Sumitomo Mitsui Banking Corporation, Equity, Doctor of Philosophy, Index, Machine learning, Ticker, Financial adviser

Rayliant Global Advisors, a global asset management firm focused on active strategies that blend behavioral finance, data science, and insights in international markets, announced today that it has partnered with Sumitomo Mitsui DS Asset Management (SMDAM), a leading Japan-based asset manager with USD139 billion in total assets (as of 1 Jan 2024), to launch the Rayliant SMDAM Japan Equity ETF (RAYJ) .

Key Points: 
  • Rayliant Global Advisors, a global asset management firm focused on active strategies that blend behavioral finance, data science, and insights in international markets, announced today that it has partnered with Sumitomo Mitsui DS Asset Management (SMDAM), a leading Japan-based asset manager with USD139 billion in total assets (as of 1 Jan 2024), to launch the Rayliant SMDAM Japan Equity ETF (RAYJ) .
  • “We can think of no better partner with whom to launch this exciting new Japan-focused ETF than Sumitomo Mitsui DS Asset Management,” said Jason Hsu, PhD, Rayliant’s Founder and CIO.
  • RAYJ is the newest Rayliant ETF, joining a lineup which also includes Rayliant Quantamental China Equity ETF (Ticker: RAYC), Rayliant Quantamental Emerging Market ex-China Equity ETF (Ticker: RAYE), and Rayliant Quantitative Developed Market Equity ETF (Ticker: RAYD).
  • “This ETF partnership allows us to share our longstanding active Japanese equity expertise with a groundbreaking ETF provider and exceptional quantitative asset manager in Rayliant,” said Takashi Saruta, CEO of Sumitomo Mitsui DS Asset Management.

Swift Sets Industry Up for Seamless Introduction of CBDCs for Cross-Border Transactions as Interlinking Solution Finds More Use Cases

Retrieved on: 
Monday, March 25, 2024
Carriers and Services, Technology, Professional Services, Payments, Electronic Commerce, Blockchain, Security, Networks, Internet, Fintech, Mobile, Wireless, Deutsche Bank, CLS Group, Automation, Savings bank, Standard Bank, Growth, United Overseas Bank, DVP, Tokenization, ANZ, Westpac, Risk, Sumitomo Mitsui Banking Corporation, Digital asset, Public policy, Intesa Sanpaolo, CBDC, Community business development corporation, Commercial, DTCC, Standard Chartered, DLT, NatWest Group, Ecosystem, HSBC, FX, CLS, DBS, Commercial bank, Cryptocurrency

Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.

Key Points: 
  • Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
  • The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
  • Swift now plans to extend its solution to support a wider range of emerging digital networks in addition to CBDCs, such as platforms for tokenised deposits.
  • This will help to facilitate access and usage of CBDCs in the new complex world of digital payments.

KKR Invests in Avantus to Support Renewable Energy Deployment in the United States

Retrieved on: 
Wednesday, March 20, 2024
Environment, Technology, Finance, Banking, Professional Services, Sustainability, Alternative Energy, Green Technology, Energy, Batteries, EIG, Electricity, Growth, Partnership, SMBC, Sumitomo Mitsui Banking Corporation, Scotiabank, GWP, Bloomberg L.P., Kilowatt-hour, KKR, Jefferies Group, Renewable energy

Following the close of the transaction, KKR and existing investor EIG, a leading institutional investor in the global energy and infrastructure sectors, will be the sole equity investors in Avantus.

Key Points: 
  • Following the close of the transaction, KKR and existing investor EIG, a leading institutional investor in the global energy and infrastructure sectors, will be the sole equity investors in Avantus.
  • Avantus is poised to benefit from material secular tailwinds supporting renewables development in the United States.
  • Together, investment in renewable energy and power grids is expected to continue to draw the largest share of energy transition spending.1
    “To support an economy-wide energy transition, there is a need to significantly expand renewable energy generation by 2050 and enable grid electrification.
  • “KKR’s investment provides Avantus the financial backing and expertise to execute on our ambitious portfolio and lead the energy transition across the Western United States.

SMBC Americas Appoints Mark Corteil as Chief Risk Officer

Retrieved on: 
Tuesday, March 12, 2024
Banking, Professional Services, Finance, Deutsche Bank, State Street Corporation, Risk, SMBC, Sumitomo Mitsui Banking Corporation, Culture, Risk management, Management

Sumitomo Mitsui Banking Corporation (SMBC) today announced the appointment of Mark Corteil as Chief Risk Officer for the Americas Division.

Key Points: 
  • Sumitomo Mitsui Banking Corporation (SMBC) today announced the appointment of Mark Corteil as Chief Risk Officer for the Americas Division.
  • “Mark has made a significant impact as a member of our risk management team and has consistently demonstrated a capacity for leadership,” said Hirofumi Otsuka, Chief Executive Officer, SMBC Americas Division.
  • “His deep knowledge of the space will help SMBC meet the demands of an evolving risk landscape as we continue to grow.”
    Mark joined SMBC in 2022 as Americas Chief Credit Risk Officer, where he oversaw all aspects of credit risk management in the region.
  • Prior to joining SMBC, Mark spent more than a decade as the Chief Credit Officer and Head of Global Markets Risk for State Street Corporation.

Lowey Dannenberg, P.C. Announces an Additional Settlement for Those Who Have Transacted in Euroyen-Based Derivatives Between January 1, 2006 through June 30, 2011

Retrieved on: 
Thursday, March 21, 2024
Barclays, J. P. Morgan, Agreement, Hearing, JPMorgan Chase, E pluribus unum, HSBC (United Kingdom), HSBC Bank, HSBC, American Bankers Association, Bank, TP ICAP, Chase Bank, Singapore Exchange, UBS AG, Sumitomo Mitsui Banking Corporation, Class, Lawyer, Interbank, Citibank, National Association, Person, Citigroup, Fairness, Tokyo Financial Exchange, Negotiation, GBD, Mitsubishi Group, District court, UBS, Defendant, Vexatious litigation, Knowledge, Settlement, Resona Holdings, TP, Norinchukin Bank, Shinkin Central Bank, TFX, Prior, Government, Société Générale, Plaintiff, Notice, CME, Conspiracy theory, Chicago Mercantile Exchange, ICAP, Court

The Settlement will provide an additional $35,000,000 to pay claims from persons who transacted in Euroyen-Based Derivatives from January 1, 2006 through June 30, 2011, inclusive.

Key Points: 
  • The Settlement will provide an additional $35,000,000 to pay claims from persons who transacted in Euroyen-Based Derivatives from January 1, 2006 through June 30, 2011, inclusive.
  • Before any money is paid, the Court will hold a Fairness Hearing to decide whether to approve the Settlement.
  • Contact your brokerage firm to see if you purchased, sold, held, traded, or otherwise had any interest in Euroyen-Based Derivatives.
  • These payments will also be deducted from the Settlement Fund before any distributions are made to the Settlement Class.

Ultrasound Equipment Market to Grow by 2.98 billion by 2028, 5.76% YOY market growth recorded in 2023-2024, Technavio

Retrieved on: 
Friday, March 15, 2024
Hospital, Diagnosis, Automation, Growth, Prevalence, Sumitomo Mitsui Banking Corporation, Canon Inc., Artificial intelligence, Conditional sentence, Boston Scientific, Tissue, ROW, Science, Hitachi, Electronics, Ultrasound, Bureau, Traction, Elasticity, Obstetrics, Hologic, Medical imaging

Advancements in image quality, volumetric ultrasound, and new technologies drive ultrasound device market growth.

Key Points: 
  • Advancements in image quality, volumetric ultrasound, and new technologies drive ultrasound device market growth.
  • The Ultrasound Equipment Market is witnessing significant growth driven by advancements in ultrasound technology and the increasing demand for medical imaging solutions.
  • With growing demand for ultrasound imaging across various medical specialties, including obstetrics, musculoskeletal, and point-of-care ultrasound, the ultrasound equipment market is poised for substantial growth.
  • The Global 3D Ultrasound Market size is estimated to grow by USD 1.33 billion, exhibiting a compound annual growth rate (CAGR) of 6.82% between 2023 and 2028.

Kilroy Realty Recasts Its $1.1 Billion Sustainability-Linked Unsecured Revolving Credit Facility

Retrieved on: 
Wednesday, March 6, 2024
REIT, Environment, Commercial Building & Real Estate, Construction & Property, Sustainability, Barclays, Wells Fargo, National Association, Bank, Chase Bank, Credit, PNC Financial Services, Adjustment, Line of credit, Sumitomo Mitsui Banking Corporation, Scotiabank, Associated Banc-Corp, U.S. Bancorp, BofA Securities, BNY Mellon, Bank of America, JPMorgan Chase, Security (finance)

The borrowing spread and facility fee are variable and subject to a ratings-based pricing grid based on the Borrower’s credit rating.

Key Points: 
  • The borrowing spread and facility fee are variable and subject to a ratings-based pricing grid based on the Borrower’s credit rating.
  • The Revolving Credit Facility was syndicated to a group of twelve U.S. and international banks led by JPMorgan Chase Bank, N.A., BofA Securities, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC, and U.S. Bank National Association, which acted as joint lead arrangers and joint bookrunners.
  • is the administrative agent for the Revolving Credit Facility and Bank of America, N.A.
  • Other participants in the Revolving Credit Facility include KeyBank National Association, The Bank of New York Mellon, and Associated Bank, National Association.