JAPAN - Religare Enterprises hired a team from KBC Financial Products to tackle the Japanese asset management market.
The asset manager has also applied for Investment Advisory and Agency Business Licenses with Japanese financial regulators.
Religare chief executive Sunil Godhwani said: "The hiring of the team is in tune with our plans to establish a multi-boutique investment management business globally.
"It will go down well with our long-term business plan to set-up a full fledged local Japanese operation with local products and track record."
The team will be led by chief executive Takuya Koyama. He previously worked for Nomura Securities, Merrill Lynch and KBC.
Religare also hired Koichi Kane as chairman and board Member, Mitsuhiro Morita as head of sales, Yuichi Sakuma as head of compliance and Masako Oyama as head of client service as the initial team to kick-off its operations.
The move into the Japanese market comes after Religare acquired a stake in US private equity firm Northgate Capital as part of a US$1bn commitment to make "strategic investments" in asset management businesses worldwide. (Global Pensions, February 23, 2010)
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