Mizuho AM closes in on new CEO
26 March 2014
Category: News, Asia, Japan
By Maya Ando
Mizuho Asset Management’s (Mizuho AM) shareholders have nominated Hidetaka Nakamura, director and chairman of Mizuho Securities Asia, to replace Shinichiro Tanaka as CEO.
Mr. Nakamura joined Fuji Bank (now Mizuho Corporate Bank) in 1978 following his graduation from Hitotsubashi University. He worked for a spell in Hong Kong and also spent 11 years in the US overseeing the US market for Mizuho Corporate Bank before taking up his position at Mizuho Securities Asia.
Mr. Tanaka has served as CEO at Mizuho AM since 2007 when the group formed the company through merging its subsidiary Daiichi Kangyou Asset Management with Fuji Investment Advisory Services, which boosted its ranking to seventh amongst Japanese asset managers in terms of AUM at the time.
A final decision on the position will be made at the firm’s annual board meeting in June this year. As of February this year, Mizuho AM had 1.88 trillion yen (US$18.4 billion) in AUM.