Colonial First State Global Asset Management (CFSGAM), formerly the global asset management arm of Commonwealth Bank of Australia (CBA), has been rechristened to First Sentier Investors.

The move follows CFSGAM’s acquisition by Mitsubishi UFJ Trust and Banking.

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The rebranding will initially commence in Australia.

CFSGAM operates under the name First State Investments outside of Australia, where the new brand will be adopted next year.

The renamed business is a standalone entity, with clients across Asia, Australasia, Europe as well as North America.

The business managed A$222.7bn ($153bn) in assets at the end of June 2019.

Meanwhile, Stewart Investors, FSSA Investment Managers, and Realindex will retain their existing brands.

First Sentier CEO Mark Steinberg said: “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.

“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.”