Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., due to combine forces in a joint holding company called UFJ Holdings Inc. in April, will consolidate their asset management business into two firms, the three banks said Thursday.

Under the plan, Tokai Asset Management Co. and Toyo Trust Asset Management Co. will transfer their investment trust divisions to Sanwa Bank’s Partners Asset Management Co., effective April 1. Partners Asset Management will then be renamed UFJ Partners Asset Management Co., and will focus on the retail market, they said.

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