22 Mar 2010
Religare Enterprises Limited, a global financial services group, has announced the hiring of a team from KBC Financial Products, Japan, to set-up a dedicated asset management, sales and distribution platform in Japan.
This comes close on the heels of last month’s announcement to earmark around $1 billion for strategic investments in diversified asset management businesses globally and set-up a global asset management platform. The first in a series of initiatives planned was the strategic investment into Northgate Capital, a leading global private equity and venture capital firm with principal offices in the San Francisco Bay Area and London, UK. Post this, Religare currently manages assets more then $6 billion in total (inclusive of the Indian asset management business).
The management team in Japan comprises Koichi Kane (Chairman and Board Member), Takuya Koyama (CEO and Board Member), Mitsuhiro Morita (Head of Sales), Yuichi Sakuma (Head of Compliance) and Masako Oyama (Head of Client Service) as the initial team to kick-off its operations. Mr Koyama comes with over 30 years of experience in the global financial services industry with players like Nomura Securities, Merrill Lynch and KBC.
Religare has also applied for Investment Advisory and Agency Business Licenses with Japanese financial regulators and will follow it up over a period of time by applying for a Discretionary Investment Management License. The existing team too will be ramped up soon and shall be focusing on sales and distribution of all asset management products from Religare’s stable globally.
This comes close on the heels of last month’s announcement to earmark around $1 billion for strategic investments in diversified asset management businesses globally and set-up a global asset management platform. The first in a series of initiatives planned was the strategic investment into Northgate Capital, a leading global private equity and venture capital firm with principal offices in the San Francisco Bay Area and London, UK. Post this, Religare currently manages assets more then $6 billion in total (inclusive of the Indian asset management business).
The management team in Japan comprises Koichi Kane (Chairman and Board Member), Takuya Koyama (CEO and Board Member), Mitsuhiro Morita (Head of Sales), Yuichi Sakuma (Head of Compliance) and Masako Oyama (Head of Client Service) as the initial team to kick-off its operations. Mr Koyama comes with over 30 years of experience in the global financial services industry with players like Nomura Securities, Merrill Lynch and KBC.
Religare has also applied for Investment Advisory and Agency Business Licenses with Japanese financial regulators and will follow it up over a period of time by applying for a Discretionary Investment Management License. The existing team too will be ramped up soon and shall be focusing on sales and distribution of all asset management products from Religare’s stable globally.
Mr Sunil Godhwani, CEO & MD, Religare Enterprises Ltd., said “The hiring of the team is in tune with our plans to establish a multi-boutique investment management business globally. We are delighted to announce the hiring of such experienced professionals and look forward to working with them. It will go down well with our long-term business plan to set-up a full fledged local Japanese operation with local products and track record.”
Mr. Takuya Koyama, CEO and Board Member, for the Japanese asset management company, said, “We are very excited about being part of the set-up team for Religare’s Japanese AMC. Our endeavour will be to establish a strong and credible franchise with Japanese Investors.”
