Sanwa Bank and five other financial institutions will form a comprehensive alliance to cooperate in areas such as retail marketing and asset management, the six firms announced Friday.
Included in the tieup deal are Sanwa and midsize insurers Koa Fire & Marine Insurance Co., Taiyo Mutual Life Insurance Co. and Daido Mutual Life Insurance Co.
Toyo Trust & Banking Co., which already has a close relationship with Sanwa, and Universal Securities Co., which has also come under the Sanwa umbrella along with three other midsize brokerages, have also joined the alliance.