Nikko AM hires and deals for global expansion
Nikko Asset Management (Nikko AM) is making 2012 the year for international expansion, and is hiring and developing new products to meet this ambition.
Charlie Metcalfe, President of Nikko Europe said the firm has developed a skill in creating and managing products that address Japanese investors’ search for yield. “These types of products are expected to become more attractive across broader markets given the current investment climate and we shall continue to look at opportunities to expand our product range in line with investor demand.”
Following a joint venture agreement between Nikko AM and India-based Ambit Holdings, Nikko AM has appointed Geoffrey Post as head of International Product Development (ex-Japan). With experience at wealth manager Coutts, Merrill Lynch Investment Managers and audit roles at SG Warburg and Price Waterhouse, he will build the international mutual fund range and grow the company’s assets and client base.
Nikko AM’s London-based marketing team was also recently bolstered with the appointment of Steven Balcombe, previously at Henderson Global Investors. The company adopts a “multi local” approach – giving local management teams a high degree of autonomy to address local market conditions and client servicing needs. “Delivering international products to international investors will be a major new initiative for Nikko AM in 2012,” explained Metcalfe.
Established in 1959, the Tokyo-headquartered firm has a distribution network of over 300 banks, brokers and life insurance companies across Asia. Post said the firm will continue its regional growth strategy. The Ambit deal will add offices in Mumbai and Mauritius, bringing the group to a total of 20 offices across 11 countries including Japan, China, Singapore, Malaysia, Hong Kong, India, Mauritius, Australia, New Zealand, the UK and the US.