BNY Mellon taps ING executive for Japan job
14 August 2014
Category: News, Asia, Global, Japan
By Maya Ando
BNY Mellon has hired Douglas Hymas from ING Mutual Funds Investment Company (Japan) as country executive for Japan and general manager of the company's Tokyo branch.
Mr. Hymas had served at US insurer ING’s asset management unit in Japan as president and chief executive officer since 2009. Prior to his role at ING Mutual Funds, he was president and representative director at Wachovia Securities (Japan).
Mr. Hymas, a fluent Japanese speaker, moved to the country in 1991 and has held senior management roles at Wells Fargo Securities (Japan) Co Ltd, Legg Mason Asset Management Japan, Barclays Global Investors and Lehman Brothers.
He reports to Gregory Roath, Asia-Pacific head of global client management, and his appointment was effective August 11.
BNY Mellon’s Asia-Pacific chairman, Steve Lackey, explained the importance of strengthening the Japan operation: “The Japanese market has by far the largest pool of AUM in Asia-Pacific, with analysts indicating AUM could surpass US$5 trillion by 2016. This presents tremendous opportunities for our continuing growth as the investments company for the world.”
“Japanese investors are increasingly looking for opportunities to invest globally, increase their domestic equity allocation, optimise their investment pools and navigate the increasingly complex regulatory requirements; all of which represents an opportunity for BNY Mellon,” he added.
Mr. Roath continued: “Doug’s strong background in Japanese investment management and investment services perfectly matches BNY Mellon’s business model for Japan. We are very pleased to have an individual of Doug’s talent, energy and experience leading BNY Mellon’s Japan business into the future.”
Aside from his role as a fund manager, Mr. Hymas has taught at The Temple University Law School in Japan as adjunct professor since 2007. He completed his JD in 1990 from the J Reuben Clark Law School, Brigham Young University. He earned his BA in 1987 from Brigham Young University.