Tag: prudential

Fund-house execs are divided over whether the proposed $35 billion acquisition of AIA by Prudential is a potential boon or bane. And what about Hong Kong's MPF business? Lee Won-Ki has left his post as chief executive of KB Asset Management to head Prudential's South Korean fund management business. As part of the deal, the UK group will buy the Singaporean bank's life insurance arm. Following the departure of Brett Goodin in May, Arne Lindman will replace him as Asia-Pacific president and CEO this coming April. Graham Mason will move from South Africa to Hong Kong as fund management CEO for Asia, with Guy Strapp becoming his right-hand man. The new unit aims to create a stronger focus on the firm's Islamic institutional business, both onshore and offshore. Company veteran Alan Morton returns to Asia with a move from London to Ho Chi Minh City. Kumar takes over from Suraj Mishra who has moved on to become regional director of partnership distribution at Prudential Corporation Asia. Investment Outlook Series: Lee Sang-Hoon, an Asian equities investment director at Prudential Asset Management, favours China, Thailand and the Philippines. As cost pressures mount, one more life insurance-affiliated asset management firm brings out the axe. Mark Toh has been named regional head of partner relationships for Prudential AM, while Thomas Cheong takes over as CEO of the Malaysian business. The number of global fund houses managing Middle East-focused products on the ground is slowly rising. Within a global multi-asset portfolio, Prudential Asset Management allocates a fifth of the holdings to Asia ex-Japan equities. Investment Outlook Series: Kannan Venkataramani, an investment director for Asian equities ex-Japan at Prudential Asset Management, favours China and Taiwan. Lindman will take over from Alan Wren who has served as interim CEO since Ajay Srinivasan left Prudential in June 2007 to join the Aditya Birla Group in Mumbai. The JV has received regulatory approval. The two parties are also moving forward with a joint venture in Islamic insurance, known as a takaful. Andrew Cormie and Thue Isen join the Singapore team as regional fund managers, just in time for Prudential's planned launch of new products. From AsianInvestor magazine: It may take many years before Vietnam reaches its full potential, both as an investment destination and as a funds industry. Prudential Fund Management Berhad raises $96 million for a range of eight Sharia funds in Malaysia, bringing the firm’s Sharia portfolio to $242 million. The asset manager has enhanced its ability to sell a handful of big-themed investment products around the region.