Sumitomo Mitsui Trust Holdings Inc, a Japanese financial holding company, headquartered in Tokyo, announced this Monday that it has appointed a new Chief Investment Officer (CIO) to its asset management arm, Akiyoshi Nagashima.
In this new position, Nagashima will be based in Tokyo. In addition to CIO, he will also be responsible for product development at the firm, a report by GFM Ltd, a digital publisher, stated.
The appointment of Nagashima follows the restructuring of Sumitomo Mitsui’s asset management arm, which saw the combination of its retail and institutional asset management businesses in October last year.
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
The new entity that resulted from this merger became the largest asset management company in Asia. As of the end of December 2018, the company has $550 billion in assets under management.
Akiyoshi Nagashima joined Sumitomo in 1986
Before his current position, Nagashima headed the equity investment department of the company for more than three years. He originally joined Sumitomo Trust & Banking back in 1986. At the time, he was responsible for risk and asset-liability management and capital allocation of the bank’s proper account.
During his career, Nagashima has gained extensive experience in providing Liability Driven Investment (LDI) solutions to clients. He has also developed and fostered client relationships with various public pension funds such as the Government Pension Investment Fund (GPIF), the biggest pension fund in the world.
“The focus of our reorganisation has not only been to provide our clients with a comprehensive and high-quality offering to meet their changing needs, but also to allow us to expand our client base internationally. As the largest asset management company in Asia, SMTAM is well positioned to extend its global outreach and position. I look forward to working with my colleagues to ensure that we continue to drive growth while nurturing our strong relationships with existing clients,” Nagashima said, according to GFM Ltd’s report.