People Moves
Nikko AM Hires President For Newly-Merged Asia Business
Japan’s Nikko Asset Management has appointed a new president and executive director to spearhead growth at the newly-enlarged business, after it merged with rival DBS Asset Management in September.
Eleanor Seet starts immediately. The newly created role involves driving the growth of Nikko AM in Singapore and Southeast Asia, said the firm in a statement.
Seet was previously the senior director for iShares, private wealth distribution and before that, spent 10 years at AllianceBernstein.
Seet replaces Deborah Ho, who has served as chief executive officer of DBS Asset Management for the past four years. She played an instrumental role in bringing together Nikko AM and DBSAM, said the firm. It is not clear what Ho’s new role will be.
Seet said: “It is a tremendous opportunity to join Nikko AM at this exciting time when Southeast Asia’s growing middle classes increasingly seek investment solutions.”
Along with Seet, Nikko AM Asia announced two other senior appointments to spearhead growth. Teck Keng Neo starts as head of middle and back office. He will transfer to Singapore from his role as head of operations and disclosure division at Nikko AM’s Tokyo headquarters. Prior to joining Nikko AM in 2005, he spent 11 years at Fidelity Investments Japan.
Rodney Lim starts as head of compliance. He joins from UBS Global Asset Management, where he was responsible for compliance. Prior to joining UBS, he worked at Citi Global Wealth Management and PriceWaterhouse Coopers.
Following the merger with DBS Asset Management announced in September this year, Nikko Asset Management Group is now the largest regional asset management company headquartered in Asia. With the addition of DBSAM, Nikko AM’s total assets under management is over $165 billion.
Established in 1959 and with its head office in Tokyo, Nikko AM is majority-owned by The Sumitomo Trust and Banking while DBS Bank is the second largest shareholder. Employees also own a stake in the company. Nikko AM holds a 40 per cent stake in Rongtong Fund Management a joint venture investment management company in China.
