Yukihiro Murota was named managing director of Sumitomo Mitsui Trust International in London, said a spokeswoman.
Mr. Murota replaces Hisaya Kambayashi, who is returning to the $446 billion money manager’s head office in Tokyo to take on the newly created role as general manager of the fiduciary business planning department, she said. Mr. Kambayashi is responsible for global strategies in the money management business.
Mr. Murota is responsible for managing all aspects of Sumitomo International’s global money management business and for driving growth in Europe, the Middle East and Africa. He also retains responsibilities from his previous role as deputy managing director.
“By pursuing untapped opportunities and growing our asset management business in the EMEA region, we are well placed to capitalize on the increasing investor appetite for Japanese equities, and to meet investor demand for an expanded range of products including global equities and private assets,” said Mr. Murota in a news release.