Tokio Marine Asset Management, which recently launched its European business out of London, has announced that Akiyoshi Oba will replace Yoichiro Iwama as president of the company, pending approval by the annual shareholders meeting in late June.  After the succession, Mr Iwama, who has served as president since 2005, will assume the role of advisor at TMA.

Prior to joining TMA, Mr Oba was president and chief executive at Mizuho Pension Research Institute. He started his career in asset management and research in 1980 at Yasuda Trust & Banking, now known as Mizuho Trust & Banking, and held increasingly senior posts including managing director and chief investment officer.

TMA has been managing assets on behalf of its global client base since 1985 and employs over 200 people in Tokyo, Singapore, London and New York.  TMA currently manages approximately $44 billion, and is one of the largest discretionary investment firms in Japan in terms of Japanese discretionary pension fund assets under management.