SoftBank's Misra to cede frontline role, launch external fund

SOFTBANK’S Rajeev Misra will cede his frontline role in managing the Japanese conglomerate’s second Vision Fund and launch his own external fund, according to an internal memo seen by Reuters.

Misra will move from CEO of SoftBank Global Advisers, which manages the second fund, to vice-chairman while SoftBank’s founder and CEO, Masayoshi Son, will take a more direct leadership role, the memo said.

SoftBank declined to comment. REUTERS