Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of - SMFG STOCK NEWS

Jefferies Financial Group (NYSE: JEF) has announced the appointment of Toru Nakashima, President and Group CEO of Sumitomo Mitsui Financial Group (NYSE: SMFG), to its Board of Directors effective August 12, 2024. This appointment strengthens the strategic alliance between Jefferies and SMBC Group, first established in 2021 and expanded in 2023 and 2024. SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as-converted and fully diluted basis, recently reaching 10.9%. Mr. Nakashima's appointment follows SMBC's right to nominate a board member upon reaching this ownership threshold. Jefferies' CEO Rich Handler and President Brian Friedman expressed enthusiasm for the expanded alliance and the value Mr. Nakashima brings to the board.

The Sumitomo Mitsui Banking (SMBC) Americas Division has appointed Brian Reed to lead its Industrials Group amidst its ongoing expansion in the Americas. Based in New York, Brian will report to Stephanie Bowker and Yoshiyuki Natsuyama. He is tasked with growing the industrials business and managing a team covering sectors such as autos, transportation & mobility, aerospace & defense, and diversified industrials. Brian joins SMBC from Citigroup, where he was the Global Head of Diversified Industrials Corporate Banking. With over two decades of experience in global banking, including a stint as a management consultant, his extensive industry relationships and expertise are expected to bolster SMBC’s Corporate and Investment Banking Coverage team.

Jenius Bank, a digital division of SMBC MANUBANK, reached $1 billion in deposits for its high-yield savings product, offering a 5.25% APY. Launched in summer 2023, the bank also amassed over $700 million in loans. This achievement highlights evolving consumer preferences in financial services. John Rosenfeld, President of Jenius Bank, emphasized the demand for innovative, convenient, and secure banking solutions. Jenius Bank aims to help customers achieve their financial goals and reduce stress. Hirofumi Otsuka, CEO of SMBC Americas Division, noted the bank’s role in SMBC's long-term growth strategy. Plans for product expansion are underway.

Jefferies Financial Group Inc. (JEF) and SMBC Group expand their global strategic alliance to enhance collaboration in the Canadian market. Jefferies establishes full-service investment banking capabilities in Canada, aligning with SMBC Group's expertise. The alliance, initiated in 2021, has seen significant expansions in the U.S. and Europe, the Middle East, and Africa (EMEA). SMBC plans to increase its economic ownership in Jefferies to up to 15%, becoming the largest shareholder.

Sumitomo Mitsui Banking Corporation (SMBC) appoints Mark Corteil as Chief Risk Officer for the Americas Division, emphasizing his leadership skills and deep knowledge of the space to meet evolving risk demands.

Sumitomo Mitsui Banking Corporation (SMBC) Global Foundation launches SMBC Building Resilient Futures program to support outdoor-based programs for youth in partnership with American Camp Association, Change Summer, and Outward Bound. The program aims to enhance confidence, character, and well-being through outdoor experiences. SMBC's pilot commitment will benefit approximately 750 youths this year, focusing on addressing issues related to the environment, inclusion, poverty, and inequality.

Sumitomo Mitsui Banking Corporation (SMBC) Americas Division appoints Clarke Adams as Head of High Yield Capital Markets and Matt Burke as Head of Leveraged Finance Origination. The two bring extensive experience from Morgan Stanley and Citigroup, reinforcing SMBC's growth in the Americas.

Jefferies Financial Group, Inc. (JEF) and Sumitomo Mitsui Financial Group, Inc. (SMFG) have expanded their strategic alliance to include enhanced collaboration across Europe, the Middle East, and Africa (EMEA) for future corporate and investment banking opportunities. SMBC has provided financing to Jefferies and purchased shares, with plans to increase its ownership to up to 15%. The alliance, which started in the U.S. and Japan, has now been extended to cover EMEA, benefiting clients through global insights and capabilities.

SMBC MANUBANK (Ticker: SMBM) formerly known as Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., has rebranded to reflect its strategic vision of expanding its commercial banking business, competing in the digital consumer bank space, and aligning with SMBC Group. The bank aims to provide high-touch service, actionable insights, and innovative solutions powered by technology, while also honoring its roots and building strong client and community relationships. The recent launch of Jenius Bank™, a digital division catering to U.S. consumers, is a part of its growth initiatives.