Colonial First State Global Asset Management today starts the rebranding of its business with the new name First Sentier Investors. This follows the completion of its sale last month to Mitsubishi UFJ Trust and Banking Corporation.
The new owner is a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), an $800 billion manager, which acquired the business from the Commonwealth Bank. First Sentier, which has $222 billion under management, now operates as a standalone business governed by its own board of directors, on behalf of an international client base that extends across Asia, Australasia, Europe and North America.
The rebranding process will begin in Australia where there is a more pressing need to distinguish the business from the remaining wealth assets under CBA ownership, and will take effect in regions outside of Australia, where the business is known as First State Investments, from next year.
Mark Steinberg, First Sentier’s, chief executive, said the rebranding represented the business’ coming of age. “We want to come together under one global brand name for the interests of our clients and our employees, and we want a name that allows the business to maintain a link to our origins, while also signalling our vision for the future. We are a global business and we require a global brand name,” he said.
“The word ‘First’ provides a link to our heritage, and ‘Sentier’ is a word of French origin meaning ‘path’. Our new brand name reflects our commitment to follow our own path, investing responsibly to create a better future for our clients, employees and the communities in which we invest.”
Separately branded teams Stewart Investors, FSSA Investment Managers and Realindex will continue to operate under their current names. In Sydney, the rebrand coincides with the business’ physical separation from CBA’s Darling Park building as it relocates to Tower Three, International Towers in Barangaroo.