Japan-listed Nikko Asset Management, which recently was bought by The Sumitomo Trust and Banking Co, has appointed Michael Herring as chief operations as well as a chief financial officer for firm’s US operations.

In his new double role, Mr Herring will be fully responsible for the financial, administrative and operational sides of firm’s US operation. He will be working along side Charles Beazley, president of Nikko Asset Management Europe.

Mr Herring will be based in firm’s New York office, where he also will be a part of a leadership team alongside with Hiroko Tsujimura, CIO and global head of alternative investments and Christina Alfandary, head of US marketing and sales.

Mr Herring joins the company from Bay Harbour Management, where he was chief financial officer and head of risk management. Prior to this, he spent eight years at LaBranche & Co, where he latterly occupied position of chief risk officer.

His earlier career included various senior positions at Ernst and Young as well as JP Morgan.

“Nikko Asset Management’s US operation is an integral part of our international business and we are delighted that someone of Michael’s calibre has decided to come onboard. Michael brings with him an invaluable mix of financial and operational experience, which makes him the perfect choice for this crucial role,” Mr Beazley, president of Nikko AM Europe.