Citigroup & Nikko in Japan venture

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JAPAN - Citigroup has formed a new custody and administration joint venture with Nikko Securities, after acquiring a 50% stake in the Nikko subsidiary, Nikko Trust and Banking.

The new joint venture, NikkoCiti Trust and Banking, plans to buy all of New York-based Citigroup's Japanese trust administration and custody business. NikkoCiti Trust and Banking will be headed by ...

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