As a result of the departure, Thomas Balk, the president of FIL’s Japanese business is to be promoted to the grander title of president, financial services, for the whole company. He will report to FIL vice-chairman, Barry Bateman.
Balk will be responsible for the company’s financial services business, which has offices in 24 countries across Europe and Asia.
He originally joined FIL in 1999 to manage its German business before moving to the UK to become president, European Mutual Funds in 2001. His move to Japan came later in 2006.