David Semaya has been appointed as chairman of Tokyo-based asset manager Nikko Asset Management.
Semaya (pictured) will join the company as non-executive chairman effective 1 April 2014, and is expected to become executive chairman on 1 September 2014.
Takumi Shibata has been named president and chief executive officer of Nikko AM effective 10 January 2014. In addition to his new roles, he will continue as executive chairman until Semaya joins the company.
Charles Beazley is stepping down as president and chief executive officer for family reasons, and will be returning to the UK.
Semaya most recently worked at Barclays Plc, where he served in various executive leadership positions since joining the bank in 2004. He was head of the wealth management business in the UK and Ireland, chairman of Barclays Asset Management Ltd, and CEO of Europe and Asia for Barclays Global Investors (BGI). From 2004 to 2007, Semaya was president of BGI Japan Trust & Banking Co. Prior to that, he was with Merrill Lynch for 12 years in a variety of roles in asset management and capital markets in both New York and Tokyo. He served as president of Merrill Lynch Investment Managers Japan from 2002 to 2004.
“Joining Nikko AM at this pivotal time in its evolution is an exciting opportunity for me, and I look forward to participating in the Japanese market again. I have known Nikko AM as a competitor, and have developed respect for the firm over many years,” says Semaya. “Nikko AM enjoys an immense business opportunity not only in Japan but throughout Asia and beyond.”
Shibata joined Nikko AM as executive chairman in July 2013 following a career at Nomura Holdings, where he served as group COO, after completing stints managing global investment banking, the global wholesale business, global support functions, and the asset management business. A seasoned executive on the international stage, Shibata spent 12 years of his career in London, where he ran the firm’s European business, three years in Hong Kong, two years each in Boston and Kobe, as well as 18 years in Tokyo.
“I am very pleased that David Semaya has agreed to join forces with us. His experience in the industry both globally and in Japan will be an invaluable asset for us,” Shibata says. ”As a member of the new management team with David, I am excited to have the opportunity to take Nikko AM to new heights for our clients on a global basis. We will achieve this by reinforcing the investment culture, the quality of products and services and risk management, while increasing the focus of our employees and investing in the business. As a firm, we’re taking a proactive approach to harvesting opportunities globally, and will seek to grow by enhancing our product capabilities to meet our clients’ needs.”
Beazley joined Nikko Asset Management in London in 2006 as president of Nikko Asset Management Europe, where he ran the firm’s international business. In 2010, he relocated to Tokyo to head the institutional business in addition to his international responsibilities. In 2012, he was named chairman and chief executive officer, and in 2013 he also became president.
