First State Investments, a $155bn Australian asset manager, unveiled its new top team on August 2 as its acquisition by Japanese banking group Mitsubishi UFJ formally completed.

Three Mitsubishi executives will take seats around First State’s board table following the $2.7bn deal, the company said. They will be led by Sunao Yokokawa, chief executive of the Japanese group’s asset management and investor services division, who will become First State’s new chair.