Alliance Capital hires new Tokyo chief

Alliance Capital Asset Management has hired Masafumi Hikima to serve as president of its Japan business, capping a recent expansion across the region, which has also seen a new CEO installed in Hong Kong and a new research operation in Shanghai. Hikima joins from Nikko Asset Management, where he had been president and CEO since 2002. He oversaw a Y6.2 trillion ($59 billion) business, but did not find a role after two Americans were put in charge of the firm last autumn. In a bid to…