Japan’s Nikko Asset Management has promoted Rob Scott to the newly created role of head of global operations, with a view to better coordinating the operations function across its international businesses, AsianInvestor has learned.
Scott previously held the joint positions of head of operations and technology for Asia ex-Japan and head of international operations, excluding Japan. The June 1 appointment has seen him relocate to Nikko AM's head office in Tokyo from Singapore and adds Japan to his operations remit.
He no longer oversees the technology function and reports to Maho Nakada, global head of operations and technology. Nakada was promoted from Japan head of operations in February.
Scott said his new role had been created because Nikko AM’s operations function was becoming more international and complex.
It now requires “a more global, strategically aligned approach that supports the business’s growth across multiple markets, product domiciles and structures, investment management locations, and more complex security instrument types,” he noted, “all while keeping the overall operating model as efficient and lean as possible.”
It is understood that Scott’s role will not be directly replaced in Singapore and that the operations team there will now report directly to Eleanor Seet, Nikko AM's Asia ex-Japan president.
Prior to joining Nikko AM in 2013, Scott was Asia-Pacific ex-Japan at Deutsche Asset Management in Singapore. He has also worked for BNP Paribas, ABN Amro Asset Management, Chartwell House Asset Management and Bank of America.
Named Japan asset manager of the year in April, Nikko AM this year entered the top-10 of AsianInvestor's AI100 ranking of fund houses by assets under management in Asia Pacific, on the back of strong growth.
In the year to September 2016, the firm’s AUM in the region swelled 23.2% to $178.5 billion from $144.6 billion. As of March 31 this year, its global total stood at $182.7 billion, including assets outside the Asia-Pacific region.
Outside of Japan, Nikko AM has offices in Hong Kong, Singapore, Australia and New Zealand, and operates joint ventures in China, India and Malaysia. It also has a presence in London, New York and Edinburgh.
The firm has made a series of acquisitions since 2010 including Australian firm Tyndall Investments and Singapore’s DBS Asset Management. It has also bought and inherited stakes in other businesses.