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Citi sells Nikko Cordial to Sumitomo Mitsui Banking Corp. SMFGCiti (NYSE:C) today announced the successful completion of the sale of its entire stake in Nikko Asset Management (”Nikko AM”) to The Sumitomo Trust and Banking Co., Ltd. (”Sumitomo Trust”) as part of a transaction that values Nikko AM at ¥120 billion (US$1.3 billion at an exchange rate of ... |
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Citi Closes Sale Of Nikko Cordial to SMFGCitigroup completed the sale of its Japanese brokerage Nikko Cordial Securities to Sumitomo Mitsui Financial Group, one more step in the U.S. bank's plans to shed noncore assets. ... |
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