Nikko Asset Management announces senior appointments
05 December 2012
News, Global, Japan
By Asia Asset Management
Nikko Asset Management Co announced on Tuesday (December 4) the appointment of Yu-Ming Wang as international chief investment officer, overseeing the global investment teams outside of Japan. Meanwhile, Hiroki Tsujimura, currently head of active investments at Nikko AM, has been promoted to chief investment officer – Japan. Both appointments will be effective from January 7, 2013.
Mr. Wang’s appointment is the most recent in a series of senior level hires as Nikko AM continues its expansion plans. He will be responsible for growing Nikko AM’s international investment capabilities and developing innovative new strategies in areas such as Asian alternative fixed income and bank loans, to reinforce Nikko AM’s position as Asia’s leading asset manager. He joins from Manulife Asset Management (Hong Kong) Ltd, where he was head of fixed income Asia.
Mr. Wang graduated from the Massachusetts Institute of Technology with a Bachelor’s degree in Engineering. He went on to earn his MBA at New York University and moved to the buy-side in 1994, managing fixed income portfolios on behalf of insurance companies and asset managers. In 1998, he co-founded his own investment advisory firm, Structured Credit Partners LLC, which was later sold and became a wholly-owned subsidiary of Wachovia Corporation with more than US$4.5 billion under management.
As managing director, Mr. Wang created a specialist unit in the fixed income division and rapidly grew the unit from five employees to more than 120 fixed income professionals in six years. He was then appointed head of global markets and investment banking Asia and relocated from New York to Hong Kong to spearhead a number of prominent fund management projects in China, Hong Kong, Singapore and Taiwan to expand the firm’s footprint in Asia. He also orchestrated the successful launches of the first pan-Asian bond fund, the first RMB bond fund and the first global REIT fund in Taiwan.
Commenting on the appointment, Bill Wilder, president and chief investment officer of Nikko AM said: “Yu-Ming has an impressive range of experiences in global fixed income, a core component of our business, and we are very pleased to have attracted someone of his calibre to join us. As Nikko AM continues its expansion plans, Yu-Ming, with his proven track record, his in-depth knowledge of the region and his experience of building out an award-winning investment team in Asia, will be instrumental in growing our expertise particularly in Asian fixed income and equities, strengthening Nikko AM’s position as Asia’s leading asset manager.”
Meanwhile, Mr. Tsujimura, who has over 20 years of experience in the investment and financial industry, joined Nikko AM in December 2004 as global head of alternative investments and chief investment officer of Nikko Asset Management Americas, Inc, in New York, responsible for overseeing the management of various alternative asset classes, including the highly successful global macro strategy.
Prior to joining Nikko AM, Mr. Tsujimura was executive vice president at Nikko Securities Co. International, having served in a number of senior level roles in New York and Japan. In New York, he was responsible for heading the equity trading division and established the proprietary trading desk. Back in Japan, Mr. Tsujimura then took the lead in forming a joint venture company with one of the largest brokerage houses in the United States.
Mr Wilder commented: “Hiroki Tsujimura’s knowledge of active and alternative investments in Japan is second to none. His promotion to chief investment officer – Japan is in recognition of the leadership qualities and innovation that he has brought to Nikko AM’s business in Japan and overseas.”
The moves come following a top-tier shake up in which Timothy F. McCarthy retired from the roles of chairman and CEO of Nikko AM in March. Mr. McCarthy was replaced by Charles Beazley as part of a long-agreed succession plan.
The firm has yet to fulfil previous ambitions to IPO, having postponed the move in late 2011 as the deepening European debt crisis fuelled global market turmoil.
“As there is no need for the company to raise cash through an immediate listing, the company has decided that it is appropriate to suspend the listing during this time of market volatility,” the Nikko AM said in an e-mailed statement in December 2011. “The company will seek to resume its listing plans when market conditions are more stable.”
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