Fast forward: Amy Cho on setting a new trajectory for M&G in Asia

Setting the agenda: vision, scale and strategic clarity

When Amy joined M&G in November 2023 as CEO and Head of Asia Pacific, the ambition was clear – to double regional assets under management. For Amy, who thrives on building businesses with purpose and precision, that clarity was part of the draw. “What appealed to me most was the senior leadership team,” she explained. “They were very clear about wanting to grow Asia Pacific, and they want to accelerate that growth.” 

Her approach has been methodical: reshaping internal structures, aligning talent with opportunity and leading with a client-first mindset that recognises the unique dynamics of Asia’s institutional and intermediary landscapes.

Deepening trust with Asia’s largest investors

Institutional investors across the region – from sovereign wealth funds to pensions and insurers – account for approximately two-thirds of the region’s US$20 trillion in assets. For M&G, expanding its credibility and reach across this segment has been a top priority.

Since Amy’s arrival, the firm has strengthened its geographical and client coverage across Greater China, Southeast Asia, Japan and Korea, amongst both the institutional and intermediary segments. These efforts are paying off.

Among the most notable achievements: securing a Japanese equity mandate from Japan’s Government Pension Investment Fund (GPIF) – a rare win for a foreign asset manager. In Taiwan, M&G has won new public pension mandates, while in Australia it has deepened relationships with the Future Fund across both public and private credit. M&G also partnered with a leading life insurance company in Asia on a global corporate bond mandate.

These successes build on M&G’s unique strength: the dual identity of asset manager and asset owner. As part of M&G plc, which includes a life insurance business, the firm manages around US$400 billion in assets – with a quarter allocated to private markets. “We are an asset manager, but at the same time, because of our background, we are also an asset owner,” Amy explained. “It gives us ‘skin in the game’ – and in this region, that alignment of interest really matters.”

Capturing growth beyond institutions

With institutional clients at the heart of M&G’s regional growth strategy, Amy has also expanded the firm’s reach into Asia’s fast-growing wholesale intermediary space – a key source of future scale as wealth flows increasingly shift from private banks to mass affluent and retail segments across the region.

Recent wins include partnerships with OCBC to distribute M&G’s Optimal Income strategy in Singapore, a white-label collaboration with BOS Wealth Management in Malaysia, and a new batch of fund registrations in Hong Kong completed in early 2025.

“It is a balanced approach,” said Amy. “We are going deeper and broader into the institutional space, while also seeking growth through intermediaries, given the wealth expansion in this region.”

People powering progress

Under Amy’s leadership, M&G has made strategic hires to build a deeper regional bench – one aligned to both institutional and intermediary growth. Over the past year, M&G has welcomed a string of senior leaders across Asia, including:

• Lesley Lo as Head of Institutional Distribution, Asia Pacific,
• Kristy Wong as Head of Intermediary Distribution, Greater China, and
• the internal promotion of Alfred Foo to Head of Intermediary Distribution, Southeast Asia.

Other additions to the Japan and Korea teams led by Manabu Fujita and Peter Kim, respectively, also strengthened M&G’s institutional presence in these markets.

These increases in firepower complement a strong core of long-tenured M&G professionals. “Many of our fund managers have been with the firm for at least 20 years,” noted Amy. “That loyalty is a real advantage – it creates stability and a shared eagerness to evolve.”

She credits the team’s willingness to embrace change as one of the firm’s greatest assets. “I am very proud of the team’s willingness and eagerness to understand what we want to accomplish together, how we transform existing processes, and how we make sure we are relevant when we acquire clients for the first time.”

Leadership that resonates – and delivers

Amy’s impact has not gone unnoticed. During AsianInvestor’s awards research and vetting process, industry leaders praised her for blending strategic vision with executional excellence – a rare combination that has rapidly transformed M&G’s presence in Asia.

“Amy brings a rare combination of strategic thinking and execution excellence that has transformed M&G’s presence in Asia,” noted one peer during the nomination process.

Amy herself sees the recognition as validation for a shared journey. “It is an acknowledgement that the work we have done, as a team, has been recognised. I think we have done the right thing – and we need to persist in those efforts.”

Amy’s style also reflects the fact that being a successful leader goes beyond business metrics. She has also been a long-standing advocate for industry inclusion. A founding executive sponsor of the Hong Kong chapter of Bloomberg Women’s Buy-side Network and currently a mentor at the Singapore Chapter, Amy has helped champion gender equity across the region. She also serves on the Career Development Advisory Council for the Hong Kong University of Science and Technology’s Business School, reflecting her ongoing commitment to building pathways for the next generation.

Poised for the next chapter

As M&G positions itself for the next leg of its growth journey in the region, Amy’s strategy is clear: leverage the firm’s unique blend of private and public investment expertise to meet the rising demand for diversification, long-term resilience and institutional alignment. “Given this evolution of investor appetite, we will be the go-to manager,” she said. 

With a sharpened strategy, a differentiated investment proposition, and strengthening client relationships across the region, Amy is not only leading M&G’s growth in Asia Pacific – she is setting a bold new trajectory for the firm. Her focus on institutional credibility, intermediary relevance and long-term alignment positions M&G to play a defining role in Asia’s next chapter of investment execution.

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