Asset Management One's head of global business, Hajime Fukuzawa, is leaving the firm to become head of business development for a Japanese chemical company. 

Fukuzawa had been in charge of Asset Management One's efforts to expand its operations beyond Japan's borders, following the tie-up of four asset management companies in Japan in October 2016.  

In an email to friends and colleagues, Fukuzawa said he would leave Asset Management One on March 31. "Working in global asset management industry (sic) over six years has given me a great deal of experience as well as pleasure," he wrote.

Fukuzawa originally worked at DAIM before the company was melded with its three peers to form Asset Management One. He is moving to become head of Japan and international business development at Hodogaya Chemical. 

Replacing Fukuzawa as head of the global business at Asset Management One will be Shinichi Aizawa, who had recently been promoted to be a deputy president of the firm. Fukuzawa praised Aizawa's "experience and knowledge in this industry" in his email.

Fukuzawa was tasked with building Asset Management One's operations outside Japan. This has included efforts to distribute its funds via regional banks, while the fund house also tied up with UK asset manager Hermes to improve its engagement in environmental, social and governance (ESG) activities in the passive investing field—something that Government Pension Investment Fund, one of its largest asset owner clients has increasingly insisted upon. 

Asset Management One ranked as the largest Asia Pacific-headquartered fund house at the end of 2016, following its creation, according to the AI100, the AsianInvestor list of the top asset managers by regional assets. Look out for our next AI100 list in the April/May edition of AsianInvestor magazine.