The CEO of the Japan-headquartered firm has been in the post for six years.

The president and chief executive of Asian investments giant Nikko Asset Management, Takumi Shibata, is to step down from the job after six years in the posts. He leaves on 1 April. 

Shibata joined the firm in July 2013 as the executive chairman. He became president and chief executive in January 2014.

Under the change, Hideo Abe and Junichi Sayato will be appointed as representative directors and co-chief executives.  Abe will also hold the title of president and Sayato the title of chairman, Nikko Asset Management said in a statement yesterday. 

Under Shibata’s time at the helm, Nikko Asset Management’s assets increased from $163 billion to $202 billion, while net income grew from $49 million to $77 million.