Nikko hires ex-First State chief
Nikko Asset Management has hired former First State chief executive Charlie Metcalfe to head up its Europe and Middle East business, as well as overseeing its US operation.
Metcalfe takes over as president of Nikko Asset Management Europe from Charles Beazley, who has moved to Tokyo where he is now responsible for Nikko AM’s businesses outside Japan as well as its Japanese institutional operation.
Metcalfe joined First State in November 2006 though left in February 2009 following a management reshuffle. Prior to this, he was deputy chief executive at Hermes Investment Management. His 23-year career in investment and banking has also included roles at Merrill Lynch Capital Management and JP Morgan.
This follows the recent appointment of Blair Pickerell in Hong Kong as head of Asia and global chief marketing officer. He and Metcalfe have been charged with developing Nikko AM beyond its Japanese retail and institutional market. Just last week, the firm took a step toward fulfilling this ambition by announcing its acquisition of Tyndall Investments, a $25bn Australian fund manager.
Closer to home, assets under management in London have grown from $8bn in 2006 to its current $23bn (£14.4bn).