Colonial First State Global Asset Management (CFSGAM) has been rebranded and will now operate under the name First Sentier in a move reflecting its purchase by Mitsubishi UFJ Trust and Banking Corporation from Commonwealth Bank of Australia (CBA).
The new owners have acknowledged the most pressing need is to distinguish the former CFSGAM business from the remaining CBA wealth arm, and as such the rebranding exercise will commence in the Australian market followed by activity next year in other offshore regions where the organisation is known as First State Investments.
“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,” First Sentier chief executive Mark Steinberg 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.”
The First Sentier rebrand will take place in conjunction with the relocation of the business from one part of Sydney’s central business district to another, from CBA’s Darling Park offices to Tower Three, International Towers in Barangaroo.
“It has been a transformational couple of months for the business and it was fantastic to coincide the timing of the relocation with the rebrand,” Steinberg said.
“The new office at Barangaroo presents an opportunity for us to become a more connected, collaborative and flexible workplace that delivers better outcomes for our clients and our people, and we look forward to becoming part of Australia’s first large-scale carbon-neutral community.”