Private Advisory Department Topics allocation and management. It strives to provide diverse asset  management services and, established a joint-venture business  in June 2010. The Private Advisory Department (PAD) of SMBC specializes  in products and services which meet the diverse requirements  of business owners and high networth individuals. Activities of  this department cover three types of business operations as  follows. One such business operation is the business and asset  transfer for which we offer our services based on our extensive  knowledge and experience accumulated over the years, and the  additional expertise provided by alliance partners such as major  tax accounting firms. The second business is the private bank- ing services which provide comprehensive financial services for  managing our clients’ financial assets. The third business is the  workplace banking services that support the HR strategies of  our corporate clients. This particular business provides assis- tance for designing the employee savings and other employee  financial benefit programs, and defined-contribution pension  plans. PAD consistently provides diverse products and services  for both individuals and corporate clients by working with other  SMBC Group companies and alliance partners.  ■ Services for High Networth Individuals,  Business Owners and Employees ◆  Joint-venture businesses within our asset man- agement services Life Planning Support for Employees Support for Business and Asset Transfers Private Banking SMFG  2011 12 PAD offers comprehensive financial advisory services for our cli- ents’ financial assets by truly understanding their financial goals  and providing appropriate advice for their risk profiles. Based on  discussions on their goals, it prepares proposals for their asset  PAD specialists prepare customized proposals for business  owners concerned about their business and asset transfers.  Our customized and diverse consulting services cover various  matters for both individuals and companies. We offer a variety of  seminars to provide our clients with up-to-date information and  advice. Furthermore, the SMBC products and services are offered  to employees, through their employers, in an effort to achieve  their financial or other life planning goals. In responding to the challenges presented by such changes  for our corporate clients’ personnel matters and financial strate- gies, PAD utilizes the diverse financial products and services  offered by SMBC to support our corporate clients by creating  employee financial benefit programs and defined-contribution  pension plans.  The management environment for SMBC’s corporate clients is  undergoing dramatic changes, as the life planning needs of their  employees are becoming diversified.  SMBC, SMBC Nikko Securities and Barclays PLC estab- lished “SMBC Barclays Wealth Division” within SMBC Nikko  Securities to provide new asset management services  leveraging the knowledge of Barclays Wealth, known for its  leading global private banking services. The purposes of this joint-venture business are for  expanding our product portfolio, improving research skills,  and meeting the need for high  quality asset management pro- posals for business owners and  high networth individuals. We  experimentally began offering the  services in some of our branches  in June 2010, and will roll out  these services at all branches  in Japan during the fiscal year  ending March 31, 2012, in order  to assist as many clients as  possible. SMBC Barclays Wealth Division SMBC Nikko Securities Barclays PLC Sumitomo Mitsui Banking Corporation SMFG companies Support from specialized units of SMBC Outside specialists (major tax accounting firms and other professionals) Sumitomo Mitsui Financial Group Private Advisory Department Business growth needs Business  succession needs Asset succession needs Financial benefit program needs Revised  defined-contribution  pension plan needs Corporate Business Office Branches Customers High-net-worth individuals Business owners Heads of wealthy families