Out the door go the Hong Kong fund firm's deputy CEO, ETF chief and three others, and in comes a new head of sales, following the arrival in December of new CEO Au King-Lun.
The fund house’s head of insurance relationship has left and will not be replaced, amid a tough environment for the industry. Hong Kong head Au King Lun also moved on last month.
Prudential’s Asian unit, Eastspring Investments, has hired Au King Lun from BOC HK Asset Management to drive its Hong Kong operation and support its institutional business.
The industry veteran, who has run Bank of China’s Hong Kong asset management unit for five years, has left to take up a new HK-based role, AsianInvestor can confirm.
Both foreign and mainland fund houses see the old onshore joint-venture model as obsolete, AsianInvestor’s Art of Asset Management conference hears.