MONEY MANAGEMENT

Manulife Asset Management chooses PIMCO veteran to lead its Japan business

Shinichi Yamamoto joined Manulife Asset Management Wednesday as president and CEO of the Canadian manager's Japan business, a spokeswoman said.

Mr. Yamamoto replaces Yoshihide Nagata, who retired from those roles at the end of March. Mr. Nagata remains a member of the board of Manulife Asset Management Japan.

Mr. Yamamoto comes to Manulife from PIMCO Japan, where he served as president and co-CEO.

Akinori Matsui, who served as co-CEO with Mr. Yamamoto, has been made sole CEO of the business, a Pacific Investment Management Co. spokeswoman said. In addition, Mr. Matsui holds the titles of chairman and managing director.