Monex Partners with Shinsei Bank for Financial Instruments Intermediary Business

​Monex, Inc., a wholly owned subsidiary of Monex Group, announced that it has partnered with Shinsei Bank, Limited and Shinsei Securities Co., Ltd., a wholly-owned subsidiary of Shinsei Bank for financial instruments intermediary business.

Concluding a three-party Letter of Intent (LOI), the partnership is subject to obtaining the approval of relevant governmental bodies. And the final agreement will be concluded by the end of March 2021.

According to the statement, Shinsei Bank's investment trust accounts and Shinsei Securities' rights and obligations for bond safekeeping accounts of its individual customers, mainly related to financial instruments intermediary transactions with Shinsei Bank, will be transferred to Monex through a corporate split (absorption-type).

Shinsei Bank will continue to sell investment trusts and bonds to both its existing and new customers as the financial instruments intermediary agent entrusted by Monex. Shinsei Securities will act as an intermediary for providing products to Monex.

The Partnership will allow Monex and the Shinsei Bank Group to jointly provide various asset management products and services to their customers by having Monex manage customer accounts and having Shinsei Bank conduct solicitation, sales and post-sales follow-ups.

Monex and the Shinsei Bank Group have agreed on the partnership in order to co-create value by leveraging their advantages. Monex and the Monex Group bring about product origination capability and extensive product line-up, while the Shinsei Bank Group leverages the customer base and consulting capability to provide higher-quality asset management services to their customers.