DWS is pleased to announce that it has extended its strategic alliance with Nippon Life for another five years from March 2023. The strategic alliance has been an important pillar for the companies to further anchor their growth in identified areas of collaboration.
Commenting on the strength of the alliance, Stefan Hoops, CEO of DWS, said: “Signing our strategic alliance agreement in 2018 was driven by the conviction that we will form a fruitful partnership to the benefit of our clients and stakeholders. The last five years are a testament to the strengths and merits of this partnership. We are therefore proud to be able to extend this strategic alliance for another five years, increase our collaboration and aim to create even greater value for both companies.”
As part of the strategic alliance, DWS and Nippon Life agreed to continue to work on expanding distribution reach, product innovation and research acuity. Initiatives include:
· identifying funds which each company and its affiliates will seek to distribute in their respective distribution channels
· introducing more DWS exchange-traded fund options for Japanese investors
· closer collaboration between DWS and Nippon Life in the areas of insurance advisory and solutions for the latter’s subsidiaries, as well as third-party clients
· integrating the best of each other’s research capability to supplement knowledge gaps and cultivate research talent at both companies
Minoru Kimura, Managing Executive Officer of Nippon Life Insurance Company, commented: “Nippon Life is proud to be a trusted partner of DWS. We believe the continuing strategic alliance will allow us to work on initiatives which over time will germinate and bear fruits. By complementing each other’s strengths and working on areas such as greater investments, distribution, knowledge transfer and outside-of-Japan collaboration, this agreement will position both companies well in order to expand its asset management business globally.”
The strategic alliance agreement was first signed in March in 2018 and had garnered strong support across all levels at both companies. In the last five years, the alliance saw increased investments made by Nippon Life into DWS product solutions, joint product distribution through the establishment of a mutual network, and new business collaboration with Nippon Life’s group affiliates.
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