Japan's largest asset management house has set its sights on growing business beyond its home market.

Sumitomo Mitsui Trust Group, with $727 billion assets under management at the end of March, has appointed Yoshio Hishida to lead global business development of SuMi TRUST’s asset management business.

In his expanded role, the firm said Hishida will strengthen SuMi TRUST’s client relationships and build new ties beyond Japan.

A long-serving employee, Hishida joined the business in 1986 as a portfolio manager in its global equities team. He was an investment officer from 1999 to 2004 and has expertise in strategy and management, having served also as an executive officer of Sumitomo Mitsui Trust Bank Limited and as general manager of Fiduciary Service Business Planning Department at The Sumitomo Trust & Banking Co.

“Through leveraging our expertise in both active and passive strategies in Japanese and global equities, our client base has grown to include pension funds, financial institutions and family offices in Europe and Asia as well as sovereign wealth funds in the extended EMEA region. By nurturing strong relationships with existing clients, and developing new relationships outside of Japan, we aim to capitalise on our expertise and continue expanding our presence globally,” Hishida said.

Hishida is also director of The Securities Analysts Association of Japan and a CFA charterholder.

Sumitomo Mitsui Trust Group is the largest asset manager in Japan.