Northern Trust appointed an industry veteran to lead its asset management business in Japan.

Keishi Yamamoto takes on the position replacing Hidehiro Nakayama who retires later this year as current president and representative director.

Reporting to John McCareins, managing director, Asia-Pacific at Northern Trust Asset Management, Yamamoto will manage Northern Trust Asset Management’s business in Japan, and will have responsibility for sales, product development, client service and operational teams in Tokyo.

Prior to taking on the new role Yamamoto was head of pensions at Wellington Management Japan for ten years and before that managed his own hedge fund at Empower Investment as CEO.

He also served as operating officer to the hedge fund incubation business at Bridge Capital securities and worked in sales leadership and investment strategy roles at Lazard Japan Asset Management and Nomura Securities in Japan.

Nakayama will serve as chairman and director of Northern Trust Japan until his retirement after nearly 30 years in the financial services industry. He has worked for Northern Trust for over six years including serving as president and representative director for five years.