Nikko Asset Management, the $151-billion asset manager, remains interested in acquiring people and firms in Australia.
“We’d like to grow the business any way we can,” says Blair Pickerell, the head of Asia for Nikko Asset Management. “If we see other teams that fit in and don’t conflict, we’ll pick them up.”
Tyndall, the Sydney-based unit of Nikko, employs 54 people and manages $22 billion, mostly in bonds. Craig Hobart, Tyndall’s former managing director, announced his resignation last week to spend more time with his family.
Hobart’s replacement is Mike Davis, who used to be in charge of Merrill Lynch Asset Management’s Australian unit.
“Mike’s got more than 30 years’ experience in financial services,” says Pickerell. “He’s entrepreneurial and has good connections with clients. He’s been on our radar screen for some time.”
Hong Kong-based Pickerell says he would like Tyndall to sell more Asian products at the same time as Nikko’s units in the region to sell more Australian ones.
“We see better cooperation with Australia and other parts of the business,” he says.
Nikko employs 1092 people globally and 457 people in Asia, excluding Japan.