Aberdeen Standard Appoints Former Schroders Exec to Lead Japan Business

Aberdeen Standard Investments, the asset management arm of London-listed Standard Life Aberdeen, has named Ken Yajima as chief executive officer and representative director of its Japan business.

Based in Tokyo, the former Schroders executive Yajima succeeds Neil Slater, who has been appointed as deputy head of private markets and global head of real estate for the asset management firm.

Slater will be heading back to the Scottish capital in October after helming the Japan offshoot of the Edinburgh-based firm since 2015, with Yajima’s appointment scheduled to take effect that same month..

The announcement of the leadership change comes three months after ASI set up a joint venture with Sumitomo Mitsui Trust Bank to invest in residential property in Japan and seven months after the company expanded its real estate business in the region through its acquisition of Orion Partners in February.

Building a Strong Japan Foundation

The Scottish firm, which manages $51 billion in real estate assets globally, said in its announcement that it had established a strong foundation on which to build a long-term business in Japan, adding that it had acquired two business licenses this year required for providing financial products and services under local laws.

“Japan is a strategic priority for Aberdeen Standard Investments,” said Hugh Young, Aberdeen Standard Investments’ head of Asia Pacific. “Ken brings deep insights into the Japanese asset management industry and a wealth of experience in distribution and business management, which will be critical to realising our ambition of delivering world-class investment capabilities to meet Japanese clients’ financial goals.”

The asset manager will be hoping that Yajima can harness the network of contacts Yajima has developed during his two decades managing assets in Japan, which include fifteen years at Schroders, to help assemble what it calls a “comprehensive suite of global investment capabilities” for Japanese investors.

Yajima is joining ASI from Schroders Japan, where he had served most recently as the company’s head of distribution, and had sat on the board of directors since 2009.

Prior to joining the London-based asset manager, the Keio University graduate spent fifteen years with JP Morgan’s Japan business including serving as head of business initiatives management and head of institutional sales.

Slater Returns Home to Head Up Global Real Estate

As Yajima takes charge of Aberdeen Standard’s Japan business, which added roughly $900 million in Asia Pacific property assets in its acquisition of Orion Partners, the company expects Slater to put his Asia experience to work back in the UK.

“As private markets and real estate strategies are increasingly important in our clients’ portfolios, I’m delighted that Neil will be able to continue contributing to our Asia Pacific growth journey in his new capacity,” Young said.

Slater had been appointed as CEO and representative director of the Japan wing of the business two years before Standard Life merged with Aberdeen Asset Management in 2017 to form a supersized asset manager that now manages $669.6 billion in assets worldwide.

Leadership Change Follows Sumitomo JV and Orion Buy

ASI’s Japan leadership adjustment comes three months after the firm announced a joint venture with Sumitomo Trust Bank to acquire multi-family residences, senior housing, student accommodation and corporate housing in Japan and other areas across Asia Pacific through its value-add investment strategy.

The joint venture, which is to be co-invested and co-managed by the two partners, aims to buy newly built properties or older residential buildings that can be renovated or repositioned.