Tyndall Asset Management, the Australian advisor owned by Japan’s Nikko Asset Management, has named a new managing director.

Craig Hobart has resigned as managing director of Tyndall AM, effective 1 April, to take a short career break and spend more time with his family, said the firm in a statement.

Hobart is succeeded by Mike Davis who joins from Causeway Asset Management, an alternative asset manager he co-founded in 2004.

Davis has worked at KPMG Sydney, Deutsche Bank and Merrill Lynch where he spent 13 years in a variety of roles. After that he co-founded Maple Financial Group, the genesis of his current business at Causeway Asset Management.

He will report to Charles Beazley, incoming chief executive officer of parent Nikko AM.

Tyndall AM offers Australian equities, international equities and Australian and global fixed interest funds to retail and institutional investors in Australia. It has over A$22 billion ($22.8 billion) in funds under management (as at 31 December 2011). It is a wholly owned subsidiary of Nikko Asset Management which has A$151 billion in funds under management (as at 31 December 2011).