Charles Beazley, president and CEO of Nikko Asset Management, has left the company for family reasons, confirmed David Collins, a Tokyo-based spokesman for Nikko.
Takumi Shibata, executive chairman of Nikko Asset Management, has taken on the president and CEO roles as well, effective Friday.
Mr. Beazley, who joined Nikko Asset Management in London in 2006 and served as chairman and CEO since 2012, said in a news release that he made the difficult decision to leave “in the face of family health issues that require my undivided attention.”
David Semaya will become non-executive chairman on April 1, with the expectation that he’ll be named executive chairman effective Sept. 1, according to the news release.
Previously, Mr. Semaya served as the London-based head of Barclays’ wealth management business in the U.K. and Ireland. A Barclays spokesman couldn’t immediately be reached for comment.
Asked if the top-level shuffle would affect the timing of an initial public offering Nikko Asset Management executives have alluded to in recent years, Mr. Collins said he wouldn't expect that to be the case, noting that while the company has “continuing interest” in an IPO, there are no immediate plans to pursue one.
Nikko Asset Management had more than $160 billion in assets under management as of Sept. 30.
