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Former First State CEO joins Nikko Asset Management

Charlie Metcalfe, the former chief executive of First State Investments, has joined Nikko Asset Management Europe as a president. He will run the firm’s business across Europe and the Middle East, as well as oversee the American operation.

Other roles previously held by Metcalfe include being deputy chief executive officer at Hermes Investment Management and managing director of Merrill Lynch Capital Management. He also helped to build Goldman Sachs’s asset management business in The UK and northern Europe.

His appointment follows Blair Pickerell’s recent appointment in Hong Kong as head of Asia and global chief marketing officer.

Meanwhile, Charles Beazley has moved from London to Tokyo where he is now responsible for all businesses outside Japan, as well as its Japanese institutional business. Both Metcalfe and Pickerell will report to Beazley.

The Asian head-quartered specialist fund management firm has been expanding into Asia. At the same time, Metcalfe and Pickerell will aim to develop Nikko beyond its Japanese retail and institutional market. Last week, Nikko announced its acquisition of Tyndall Investments for £17.5 billion.

The appointment is subject to approval by the Financial Services Authority.

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