PRIVATE SIDE: Japan Post Chief Joins BlackRock

BlackRock is keen on being one of the top foreign asset managers in Japan (in terms of assets under management), especially as Japanese pensions gravitate toward equity products. Yoshiyuki Izawa, who has been president and CEO of Japan Post Bank for the past five years, is joining BlackRock as an executive. Japan Post Bank oversees US$ 1.7 trillion in assets. BlackRock named Izawa chairman, representative director and country head of Japan. Before Japan Post Bank, Izawa worked at Mitsui & Co.

Izawa replaces Masato Degawa, the BlackRock’s president, representative director and country head of Japan, who will remain with the asset manager through June 2015. Before BlackRock, Degawa was the chief investment officer of SGAM Japan.

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