Morley Fund Management appoints CIO for Japan

Article date: 13 November 2000

Morley Fund Management, the asset management company createdfrom the merger of Morley Fund Management Limited and Norwich UnionInvestment Management Limited, has further strengthened its teamwith the appointment of a Chief Investment Officer, Mr HidehiroTomioka, in Tokyo, with effect from 1st November.

Mr Tomioka, who has over 14 years investment experience, joinsMorley from INVESCO Asset Management in Japan where he was Directorand Head of Research. He was previously responsible for a team offund managers and analysts investing in all sections of theJapanese stock market, managing domestic pension funds andformulating asset allocation on a global basis. Prior to INVESCO,Mr Tomioka was Vice-President of LGT Asset Management, havingpreviously worked for The Nippon Credit Bank for 10 years. MrTomioka gained an MBA in Finance from Wharton Business School inPhiladelphia.

Mr Tomioka will be responsible for the £2 billion of Japaneseequity assets managed out of Tokyo and will be part of theInternational Equities team led by Andrew Hitchings. Mr Tomiokawill report to Mamoru Imai, the Managing Director of the Tokyooffice, who previously held the dual role of Managing Director andCIO.

Commenting on the appointment, Mamoru Imai, Managing Director,Morley Japan said:

"We are delighted to welcome Mr Tomioka to our team in Japan andwe are sure that his strong track record and his growth orientatedinvestment skills will prove to be invaluable. Mr Tomioka'sappointment and the creation of this new CIO position, reflectsMorley's expansion post-merger and its commitment to building thebusiness further in Japan."

Commenting on his appointment, Mr Tomioka said :

"I am looking forward to working with Mr Imai and to thechallenge of developing the team and expanding the business inJapan. I feel confident that I have the necessary experience tomeet the high standards that Morley Fund Management sets."


For further information please contact

Morley Fund Management

Andrew Hitchings - 020 7809 6041
Vicki Rhind - 020 7809 6128

Penrose Financial

Gay Collins/Caroline Deutsch - 020 7776 7611

Notes to Editors

CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc - the world's 6th largest insurer, the UK's largestinsurance group and one of the top-five life insurers in Europewith substantial positions in other markets around the world.

CGNU's principal business activities are long-term savings,general insurance and asset management with worldwide premiumincome and retail investment sales of £26 billion and assets undermanagement of more than £200 billion.

From October 2000, the combined life and pensions, generalinsurance and retail fund businesses in the UK operates under theNorwich Union brand, while the institutional business operatesunder the Morley Fund Management brand.

Morley Fund Management is the business name of Morley FundManagement Limited ("MFM") and Norwich Union Investment ManagementLimited ("NUIM"), both regulated by IMRO and members of the CGNUgroup.

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