UBS looks to Sumitomo Mitsui tie-up to 割れ目 Japanese wealth
By Brenna Hughes Neghaiwi and Takashi Umekawa
ZURICH/TOKYO, June 7 (Reuters) - UBS 調印するd a 共同の 投機・賭ける を取り引きする Sumitomo Mitsui 信用 on Friday, 目的（とする）ing to 割れ目 a Japanese wealth 管理／経営 market where it has struggled to grow over the last 15 years.
The 取引，協定, 調印するd by the banks' CEOs in Zurich, will create a 投機・賭ける 大多数-owned by UBS that will 拡大する the services both 会社／堅いs can 申し込む／申し出 their 豊富な and ultra-豊富な 顧客s.
It makes the スイスの bank the 最新の foreign 資産 経営者／支配人 to 的 Japan's 概略で $17 一兆 in 世帯 資産s.
Looking to make その上の inroads in the country, where it 持つ／拘留するs a 安全s but not a banking license, 限界ing the services it can 申し込む／申し出, the world's largest wealth 経営者／支配人 said partnering with an 設立するd 地元の bank would help grow its 旗艦 商売／仕事 in one of the biggest wealth markets.
"We would rather own 51 パーセント of something that is big than 100 パーセント of something that is smaller," UBS 全世界の Wealth 管理／経営 Co-大統領 ツバメ Blessing told Reuters.
"We 推定する／予想する this 商売／仕事 to grow and to grow faster than if we did it alone."
Japan, the world's third-largest economy, has long been a 的 for foreign 資産 経営者／支配人s, given its 比較して high 貯金 率 and number of 豊富な individuals. At the end of 2018, personal 財政上の 資産s totalled 1,830 一兆 yen ($17 一兆), によれば the 日本銀行.
But foreign banks have struggled to 設立する a foothold, with several large international players pulling out of the 商売／仕事 for 欠如（する） of 規模.
UBS 現在／一般に manages over $20 billion for 豊富な （弁護士の）依頼人s in Japan, Blessing said, a small fraction of the market. Its 長，指導者 (n)役員／(a)執行力のある believes the 商売／仕事 can be 二塁打d over the next five years through the 取引，協定, he told newspaper Handelszeitung.
A 相当な 部分 of Sumitomo Mitsui 信用's 285 一兆 yen of 資産s under 保護／拘留 あられ／賞賛する from 豊富な 顧客s who will b e referred to the new company, UBS' Japanese country 長，率いる said in a 覚え書き on Thursday.
RECIPE FOR SUCCESS?
UBS, Switzerland's biggest bank, has recently 直面するd 立ち往生させるd 収入s in its 核心 商売／仕事 managing more than $2.4 一兆 for the world's rich as （弁護士の）依頼人s 在庫／株 up on cash and shy away from 貿易（する）ing まっただ中に geopolitical 不確定.
It is now looking to tie-ups with 地元の players to support the 商売／仕事' 全世界の growth, using the Japanese 投機・賭ける as a "実験（する）ing ground" for other possible 共同s.
"(We want to see) whether this 肉親，親類d of 体制／機構 can help us to 後継する in markets where we have a 確かな presence but where our 国内の 株 compared to the 地元の competitors is still 比較して small," Blessing said.
The 取引，協定 between UBS and the Japanese 信用 bank should help both 上げる 商売／仕事 with 存在するing （弁護士の）依頼人s and attract new 顧客s, they said, with UBS （弁護士の）依頼人s 伸び（る）ing 接近 to the Japanese bank's real 広い地所 and 信用 services, while Sumitomo 信用 （弁護士の）依頼人s 伸び（る） 接近 to UBS' wealth 管理／経営 services.
The two 会社／堅いs will begin referring （弁護士の）依頼人s to each other by the end of the year and 目的（とする） to 設立する the new company by 2021, they said in a 共同の 声明.
($1 = 108.3900 yen) (報告（する）／憶測ing by Brenna Hughes Neghaiwi in Zurich and Takashi Umekawa in Tokyo; Editing by 示す Potter and Christopher Cushing)
