His appointment will be effect from 1 July 2013, following approval, while Charles Beazley will continue as president and CEO and be responsible for the day-to-day management of the business. He was serving as the chairman, president and chief executive.
As per its corporate governance practices, the asset management company will split the roles and responsibilities of chief executive and chairman, in a bid to ensure effective operations of the business.
As part of its global expansion strategy, Nikko AM has purchased wealth management firms in Singapore, Hong Kong, China, Australia and New Zealand, over the past few years.
Set up in 1959 and with total asset under management (AUM) of $162bn as at 31 March 2013, Nikko AM is one of the largest distributor networks across the Asia-Pacific region, comprising over 300 banks, brokers, IFAs and life insurance companies.
