ASIA - Nikko Asset Management has hired the former Morgan Stanley Investment Management chief executive for Asia to help the Japanese firm continue to expand throughout the region.
Blair Pickerell will serve as Nikko's head of Asia and global chief marketing officer and be based in the firm's new representative office in Hong Kong.
The firm said it plans to acquire a full management license there and already owns 40% of Chinese investment management firm Rongtong Fund Management.
"I am very pleased personally and professionally to be partnering with Blair," said Timothy McCarthy, Nikko AM's chairman and CEO. "Blair and I have known each other for 16 years since our days at Jardine Fleming. He has unparalleled expertise in our industry in Asia, including his pioneering of mutual fund distribution in Taiwan and throughout the region."
McCarthy added: "We plan to continue building our distribution and fund management capabilities throughout Asia."
Pickerell said: "The favourable demographics, continued deregulation, and ongoing economic success of Asia suggest that this region will be one of the leading generators of wealth in the coming decades. Nikko AM is well-positioned to become the leading investment management firm headquartered in Asia. We are one of Japan's largest and most internationally-oriented asset management firms and we have a thorough understanding of the Asian consumer."
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