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View the article online at http://citywire.co.uk/wealth-manager/article/a751679

Nikko hit by senior double departure after Semaya appointment

by Robert St George on May 16, 2014 at 14:14

Nikko hit by senior double departure after Semaya appointment

Two of Nikko Asset Management’s top managers in Europe have left the group, Wealth Manager can reveal.

Charlie Metcalfe and Stuart Kinnersley were, respectively, president and chief investment officer for Nikko Asset Management Europe.

Former finance director Michael Mulholland has been named acting head of Nikko Asset Management Europe, while Andre Severino has been appointed interim Europe chief investment officer.

The exits of Metcalfe and Kinnersley (pictured) follow the recruitment of ex-Barclays private bank head David Semaya as chairman of Nikko Asset Management in January. Semaya also chairs the group’s UK operations.

Metcalfe, a former chief executive of First State, joined Nikko in 2010. His departure is the latest in a series of changes at the top of the firm.

Charles Beazley, who became president and chief executive in April 2013, stepped down for family reasons at the start of 2014. He has been replaced by Takumi Shibata, who reports to Semaya.

‘Nikko Asset Management is looking to invest more in the UK in both fund management and on the distribution front,’ Shibata told Wealth Manager.

In particular Alex Shaw, head of Europe, Middle East and Africa sales and marketing, is understood to be building up his team in the region.

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