Timothy F. McCarthy, chairman and CEO of Nikko Asset Management, will retire at the end of March, confirmed senior account executive Jamie Wynn-Williams.
Charles Beazley, president of the firm's international offices and head of Asian operations in Japan, will replace him on April 1.
Mr. McCarthy joined Nikko in March 2004 as president and CEO and became chairman four months later. In Mr. McCarthy's eight-year tenure, assets under management at the firm grew to $150 billion from $50 billion “during a difficult global environment,” according to a Nikko news release.
Mr. Beazley started in Nikko's London office in 2006 before moving to Tokyo in 2010 to manage Asian operations. Mr. Wynn-Williams could not comment on whether arrangements have been made to replace him yet.