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Ex-Goldman’s Kagawa Aims to Boost Japan Private Wealth

Kagawa Asset Management Co., run by a former Goldman Sachs Group Inc. banker, is aiming to boost its private banking assets by 67 percent as Japan’s rich seek to preserve their $4.6 trillion wealth amid the global market rout.

Kagawa Asset is seeking to boost assets under advice by 10 billion yen ($130 million) in 12 months, said Yuichi Kagawa, the founder of the Tokyo-based firm. Kagawa has grown assets under advisory to about 15 billion yen since starting in April 2009 and currently has about a dozen clients who are business owners of both publicly traded and private Japanese companies, he said.