Eastspring names Singapore CEO
Eastspring Investments, the Asian asset management arm of UK insurer Prudential, has named Jackie Chew as Singapore chief executive, capping a year of major personnel changes at the firm.
Chew started this week, assuming responsibilities that had come under Guy Strapp's remit since he became CEO of Eastspring in August.
She has been with Prudential Corporation Asia since January 2011, where she was regional director of the firm’s internal auditing group in Asia covering asset management and insurance businesses.
Mick Cheng will replace Chew in January, having previously held a similar role at Barclays.
Before joining Prudential, Chew was chief auditor for ING's Asia-Pacific insurance business. She has also held senior roles at Merrill Lynch and consulting firm PwC.
Chew’s appointment follows a number of senior departures and hires this year. Strapp was previously CEO for Eastspring Investments in Singapore before being appointed CEO of Eastspring Investments in August when Graham Mason stepped down and relocated from Singapore to South Africa. Mason has been appointed a less active role of executive vice-chairman, and is still involved in the firm’s investment decisions for its joint-venture companies in China, Hong Kong and India.
Other departures this year included institutional sales heads Paul Hancock in London and Dean Winterton in Singapore.
Hancock had been regional head of institutional sales at Prudential’s funds arms in Hong Kong for three years before moving back to London in mid-2011 to establish Eastspring’s UK and European institutional sales business. He announced plans to retire this summer.
Winterton, who replaced Hancock as of Asia head of institutional sales, left in late May to join Australian asset manager Perpetual as general manager of distribution. He joined in July 2011 from AMP Capital.
On the hiring front, in October Eastspring poached Michele Bang from Deutsche Bank as deputy CEO and global head of distribution, product and marketing. Bang is based in Hong Kong and started in mid-November. In 2011, AsianInvestor named Bang as one of the 25 most influential women in asset management.
Eastspring managed $94 billion in AUM as of June 30, and experienced a 17% year-on-year increase in Asia-Pacific-sourced assets last year, by AsianInvestor numbers.