Sumitomo Mitsui Trust Bank (U.S.A.) Limited, ("SMTBUSA"), was originally established in 1987 as a New York State chartered trust and banking company, insured by the Federal Deposit Insurance Corporation. SMTBUSA is a wholly-owned subsidiary of The Sumitomo Mitsui Trust Bank, Ltd. of Japan, which is one of Japan's major trust banks. In May 2002, SMTBUSA relocated its office to New Jersey and became a New Jersey State chartered trust and banking company, insured by the Federal Deposit Insurance Corporation. SMTBUSA's mission is to provide world-class global custody services and securities lending* services for mainly Japanese institutional investors, their overseas branches and affiliates, and to the financial institutions responsible for their investments.
The global presence of 4 offices in Asia, Europe, and USA allows SMTBUSA to respond to client inquiries in a timely and accurate manner.
Sumitomo Mitsui Trust Bank (U.S.A.) Limited ("SMTBUSA") is the actual contracted partner for customer relationships and transaction processing related to the Global Custody and Securities Lending services provided by SMTBUSA.
The Securities Services Promotion Department Global Asset Services Team of Sumitomo Mitsui Trust Bank, Limited and Financial Institutions Department of Sumitomo Mitsui Trust Bank, Limited ("SMTB"), under a service agreement with SMTBUSA, may introduce and explain services and products acting as its agent. The Asset Service Department Global Fund Services Team of SMTB provides customer support functions including answering customer inquiries in connection with the administrative process of custodial businesses in Japan. In addition, branch offices of SMTB transmit information and documentation between SMTBUSA and its customers in Japan. However, SMTB, including its departments and branch offices, is not a party to the transactions or contracts with customers for the Global Custody and Securities Lending services offered by SMTBUSA.
Sumitomo Mitsui Trust Bank (Luxembourg) S.A. ("SMTBLUX") provides certain services consigned by SMTBUSA. Among the services consigned to SMTBLUX are functions such as providing customer support, primarily for transactions executed in European markets. SMTBLUX separately serves as a sub-custodian of SMTBUSA for Euroclear and the South African market and provides services such as safekeeping and transaction processing of securities held in these markets.
With regard to custodian FOREX services, SMTBTKY, acting through its Market Making Business Unit, Global Markets, provides certain FOREX services for Asian currencies as SMTBUSA's agent in the Tokyo time zone.
Sumitomo Mitsui Trust (UK) Limited ("SMTUK") provides certain services consigned by SMTBUSA. Among the services consigned to SMTUK are functions such as providing operational support primarily for European markets (i.e. providing cash dividend information, monitoring cash/securities settlement instruction at the European time).
SMTBUSA may share certain information related to its customers with the above mentioned parties in order for them to better perform their responsibilities as consigned by SMTBUSA in addition to explaining SMTBUSA's Global Custody and Securities Lending services.
SMTBUSA is committed to the international fight against money laundering and has implemented a number of anti-money laundering ("AML") policies, procedures and practices. SMTBUSA trains its employees in appropriate compliance practices and controls and strives to enhance its anti-money laundering policies and procedures. Specifically, SMTBUSA:
The fight against money laundering is an evolving and never-ending process. SMTBUSA must be able to identify and understand the potential risks of money laundering and implement appropriate processes to prevent such risks from occurring. SMTBUSA must also continually evaluate the strength of its existing policies and procedures and update them, as necessary, to address the evolving AML requirements. By updating its policies and procedures, systems and technology, and training its employees, SMTBUSA seeks to remain well equipped to combat money laundering and other financial crimes and assist governments in the war on terrorism.
Please see Standard AML Questionnaire.
NOTICE OF FDIC INSURANCE COVERAGE FOR ACCOUNTS
By operation of federal law, beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, whether interest-bearing or noninterest-bearing accounts, are insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
SMTBUSA is a leading world-class custodian bank that offers employees a dynamic, exciting and growth-oriented environment. Please visit our career opportunities site page for current job openings within the bank.