The holding company behind Japan’s largest asset manager has revealed the senior executives who will lead its newly reorganised business.
The reshuffle comes after the firm segregated the asset management functions of Sumitomo Mitsui Trust Bank and merged them with Sumitomo Mitsui Trust Asset Management.
Hideki Hiraki, who has served as president of the latter entity, will become co-chairman of the merged business. David Semaya, a former chairman of Nikko Asset Management, will take on the same role.
Yoshio Hishida, currently the executive officer of Sumi Trust Holdings, will become the president of the merged business.
Sumi Trust hopes to complete the business split and integration, which is subject to regulatory approval, on October 1.
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