Printer Friendly

Japanese Trust Bank Formed By Bank, Insurer Consortium.

A consortium of major insurance companies and trust banks led by Nippon Life Insurance Co., Japan's largest life insurer, and including a unit of Germany's Deutsche Bank AG, has launched a joint venture, the Master Trust Bank of Japan Ltd.

The Master Trust Bank, which officially began operations May 9, is designed to tap a booming market in providing services to pension funds in Japan. It's also the only way that the participants could sidestep the regulatory barriers that foiled an earlier plan to form such a master bank.

The new trust bank will target opportunities to serve pension funds that have been given greater leeway in managing funds. Pending legislation would create a market for defined-contribution pension plans, similar to 401(k) plans in the United States.

The Master Trust Bank includes five major players: Nippon Life recruited Mitsubishi Trust & Banking Corp., Toyo Trust & Banking Corp., Meiji Life Insurance Co. and a lone foreign bank, Deutsche Bank.
COPYRIGHT 2000 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Master Trust Bank of Japan
Comment:Japanese Trust Bank Formed By Bank, Insurer Consortium.(Master Trust Bank of Japan)
Publication:Best's Review
Article Type:Brief Article
Geographic Code:9JAPA
Date:Jul 1, 2000
Words:158
Previous Article:Serving Every Need.
Next Article:LSA Securities Changes Name To Allstate Financial Services.
Topics:


Related Articles
The activities of Japanese banks in the United Kingdom and in the United states, 1980-88.
Bank of Tokyo-Mitsubishi and Frank Russell Company Launch `Multi-Manager' Investment Program.
Toyo Trust Assigned 'BBB/A-2'; Outlook Positive.
S&P Assigns Prelim Rtgs to Shinsei Bank's CLO Deal.
S&P Asgns Rtgs to Shinsei Funding Two SPC's CLO Deal.
Fitch Assigns Rating To Shinsei Funding Two.
S&P Asgns Prlm AAA to Shinsei Funding Four's CLO ABS.
How to incorporate in Japan, Part 2: specifics of setting up a company.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters