Hobart oversaw Tyndall's sale and subsequent integration into Japanese fund manager Nikko Asset Management during his two years as managing director.
"I am proud to have led Tyndall during such an exciting time in its development, but I am looking forward to taking a break and spending some time with my family," Hobart said.
Davis joins Tyndall from Causeway Asset Management, an alternative asset manager he co-founded in 2004.
Nikko AM chief executive Charles Beazley said Davis's long-standing relationships with institutional clients would "be central in helping to win new mandates across the region".
"We are very grateful to Craig for his leadership during this time and wish him all the best in whatever he chooses to do in the future," he added.
Davis said he was pleased to be joining "a pre-eminent organisation such as Tyndall AM".
"I am very much looking forward to working with everyone involved to make sure Tyndall continues to build on this platform and add further products and capabilities that will cement our presence as part of a true pan-Asian funds management company," Davis said.