The Bank of New York Mellon completed its acquisition of JPMorgan Trust Bank in Japan.
The purchase is part of the company's acquisition of JPMorgan Chase's global corporate trust business in 2006 and financial terms were not disclosed.
With the completion of the acquisition, Bank of New York Mellon said it has significantly improved its corporate trust capabilities in Japan and expanded the wide range of issuer and securities services available to its growing client base. The trust bank provides asset securitization-related services for clients.
Bank of New York Mellon will offer its own trust products to Japanese customers, as well as the securitization asset trustee services already provided by the newly acquired bank.
It has had a presence in Japan for almost four decades. The company provides a wide variety of products and services to Japanese institutional and retail investors including asset management, securities servicing and corporate trust.