The strategic alliance aims to broaden the two companies’ product offerings and services for the benefit of their respective clients, FMIC said in a press statement on Monday, adding that the duo would also seek to develop other possible areas of business cooperation.
FMIC president Roberto Juanchito Dispo said, “This strategic partnership is a significant step in pursuing our goal to expand our business coverage in the Asian region. This will definitely open up a more diverse client base for First Metro, both here and abroad.”
TTFH is among the 10 publicly listed securities companies in the Tokyo Stock Exchange. It is engaged in the purchase and sale of securities, the brokerage of securities, the underwriting, sale, public offering and private offering of securities, as well as other financial product transaction businesses and financial product-related businesses. The company also provides financing and fund management services for clients in overseas markets, including Asian and European financial markets.
FMIC said the memorandum of understanding, which was recently signed in Japan, would “address collaborative and mutual endeavors such as provision of products and services, information sharing on economic environment and the corporate sector, exchange programs for on-the-job trainees, establishment of investment trust products, and promotion of corporate finance businesses including financial advisory and others.”
In a separate disclosure made by TTFH in Japan, the Japanese firm said it would “aim to meet the growing needs of its valued clients through business cooperation with one of the largest financial institutions in the Philippines, as it recognizes great economic potential in the future of the ASEAN region where robust growth is expected.”
“As a first step, TTFH will strengthen its provision of brokerage services of Philippine equities and relevant investment information for the purpose of helping its clients’ investment activities,” the disclosure said.
TTFH is the first group engaged in securities brokerage operation in Japan to form an alliance with the Metrobank Group.
Late last year, First Metro also teamed up with DBSVickers Securities (Singapore) Pte. Ltd. for a research collaboration as part of First Metro’s thrust to establish a footprint in the region in the areas of investment banking, securities brokerage and asset management.
Incorporated in 1963, FMIC is a leading investment bank in the country with 50 years of service in the development of the Philippine capital markets. In 2012, it was recognized by Finance Asia as the Best Equity House in the Philippines.