Croesus Retail Asset Management appoints Tetsuo Ito as CFO

He will replace Hidenori Asai who retired at the age of 69.

Croesus Retail Asset Management announced the appointment of Tetsuo Ito as chief financial officer.

Mr Ito, 38, will assume the role and responsibilities of the CFO of the trustee-manager and will be responsible for capital management, overseeing the implementation of the Trust's short-term and medium-term business plans and financial conditions, coordinating fund management activities and preparing consolidated accounts of the trust.

Mr. Ito has more than 16 years of financing, accounting and corporate audit experience.

Mr. Ito started his career at KPMG Japan in 1997 and performed financial audits and due diligence projects of major Japanese companies, mainly in the financial industry, as well as financial and corporate advisory services in various industries. During his career at KPMG Japan from 1997 to 2004, he dealt with a merger of two Japanese listed insurance companies having JPY6 trillion of total assets, as well as an acquisition of a Japanese insurance company by a US financial institution having JPY2 trillion of total assets. From 2004 to 2005, he was with KPMG LLP New York and provided various audit and accounting services to US and Japanese companies, according to a .

From 2006 to 2007, Mr Ito was a representative director of the Phoenix Accounting Group Inc and served as deputy CFO for Croesus Japan Inc. from 2007 to 2012. In 2013, he was appointed as deputy CFO of the Croesus Retail Asset Management (as trustee-manager of the Croesus Retail Trust).