BNY Mellon has announced that its Japanese investment management business, BNY Mellon Asset Management Japan, is appointing an experienced Japanese Equities team, to complement and expand its existing international investment management capabilities.
The six-strong team of investment professionals will join from ING Investment Management, and will be based in Tokyo. Led by Miyuki Kashima, the team includes investment managers, analysts and a trader.
Kashima joined ING from Merrill Lynch Mercury (now BlackRock). Since she joined ING in mid 2009, Kashima and her team have built a strong track record, outperforming the respective benchmarks every calendar year and delivering superior performance versus the peer group*. She was previously Head of Japanese Equities at Chase Trust Bank.
Locally, Kashima will report to Shizu Kishimoto, Representative Director and President of BNY Mellon Asset Management Japan, and functionally to Alan Harden, Chief Executive Officer for BNY Mellon's Asia-Pacific investment management business.
'We are aggressively growing our investment management business across Asia-Pacific and Japan is an important part of our strategy. We are very fortunate to have attracted a high quality, institutional-grade domestic equities investment team ahead of what we believe will be a return to growth for Japan', notes BNY Mellon's Harden.
'There is an increasing air of optimism for long awaited growth and opportunity in Japan in response to the new political will and change in government policies, which is widely viewed as pro-business', observes BNY Mellon's Kishimoto. 'Institutional investors are beginning to consider increasing allocations and weightings to Japan as the market gradually re-rates in response to these positive developments. Accordingly, this is why we believe now is the right time to increase our investment in Japan and strengthen our local presence to cover domestic equities as well as broader international investments'.
Douglas L. Hymas, President and CEO, ING Mutual Funds Management Company (Japan) Ltd., said: 'Our growth strategy at ING Investment Management Japan is increasingly focusing on distribution of offshore assets to third parties. In this context we are very pleased that the Japanese Equities team, led by Miyuki, is able to transition to such a well-established organisation as BNY Mellon'.
BNY Mellon’s Harden adds: 'Our goal is to become one of the premier investment managers in Asia- Pacific. It's a 10-year-plus journey, but we need to move the dial significantly over the next three to five years. We intend to build our local manufacturing capability across Asia-Pacific in equities and fixed income, and this is one of a number of steps that we are taking'.
BNY Mellon has been serving Japanese institutions for almost 100 years. The company opened its first office in Tokyo in 1970 and was granted a branch license in 1973. BNY Mellon launched BNY Mellon Asset Management Japan Limited in 1998. BNY Mellon provides a wide variety of products and services to the Japanese institutional and wholesale marketplace including investment management, asset servicing, broker-dealer services, corporate trust, depositary receipts and global markets.