The first major feat of succeeding in Japan, certainly, is cracking a market that is largely investment-averse. But at
Over the past two years, Timothy McCarthy, Nikko's chairman and chief executive officer, has done away with a number of Japanese business practices to the firm--including lifetime employment, seniority-based salaries and committee-run portfolios.
"Nikko fund managers were held back by a culture of shame, where you want to win by not losing," McCarthy said. "The problem was that these fund managers didn't really think they were special, which was a reflection of this socialist culture."
To encourage portfolio managers to shine, Nikko is now offering them stock options and share savings.
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