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Nikko appoints new chairman
10 January 2014
Industry veteran David Semaya, who announced last year his retirement from Barclays, takes up the position
Nikko Asset Management (Nikko AM) has appointed David Semaya as
chairman following changes to senior management.
He will join the company as non-executive chairman effective
April 1 2014, and is expected to become executive chairman on
September 1 2014.
Semaya is a well-known figure in the UK asset management
industry, having previously acted as Barclays' head of private
banking and being a director of the UK Investment Management
Association. He announced in September that he would be
retiring from the bank after 10 years.
Changes to leadership of Nikko AM were sparked by the imminent
departure of Charles Beazley, president and CEO, due to family
reasons. He will return to the UK.
Beazley will be replaced by Takumi Shibata as of January 10.
Shibata will also continue as executive chairman until Semaya
joins the company in April.
Shibata said: "As a member of the new management team with
David, I am excited to have the opportunity to take Nikko AM to
new heights for our clients on a global basis. We will achieve
this by reinforcing the investment culture, the quality of
products and services and risk management, while increasing the
focus of our employees and investing in the business.
"As a firm, we're taking a proactive approach to harvesting
opportunities globally, and will seek to grow by enhancing our
product capabilities to meet our clients' needs."
During the latter part of his time at Barclays, Semaya was
tasked with leading an initiative to set up a centre of
excellence for asset management at the private bank. He is a
trustee director for one of Europe's largest private pension
funds. He previously lived in Japan for more than 15 years and
is fluent in Japanese.
Beazley has worked for Nikko AM for seven years.
He said: "The decision to leave Nikko Asset Management was not
an easy one for me, but I naturally chose to return to the U.K.
in the face of family health issues that require my undivided
attention," Beazley said. "I am proud of the progress Nikko AM
has made during my tenure as CEO, and have no doubt that the
company will continue to prosper under the new