Prudential re-brands Asia asset management arm
From Asia Nov 16 2011 BY: Simon Danaher
, Online News Editor
, International Adviser
Prudential is re-branding its Asia asset management operations Eastspring Investments, as it plans to expand its offering in Europe and Asia and to enter the North American market.
The new Eastspring Investments brand will replace the different names the company has in use in Hong Kong, Singapore, Malaysia, Taiwan, Japan, Korea, United Arab Emirates and Vietnam. However, it will not apply to joint venture operations in China and India, or in Hong Kong through BOCI-Prudential. The rebranding plans are subject to regulatory approvals.
Prudential Corporation Asia chief executive Barry Stowe said the asset management business plans to introduce the new brand across the region in the first quarter of 2012.
“We have built a successful asset management business in Asia with assets sourced primarily from the region,” said Stowe.
“Now, we are creating one unified brand for the business which we can use around the world. The Asia focus of this business offers a compelling investment story, particularly for global investors looking to diversify into the fastest growing region in the world.”
Stowe added that Eastspring will remain part of Prudential Corporation Asia but “will allow the company to penetrate Asian and European markets much more efficiently” and to grow its branded offshore product range worldwide and to enter new markets “such as North America.”
Eastspring Investments is headed by Graham Mason who has been with the company in senior fund management roles for over 20 years.
In addition to changing the names of each individual asset management company, the names of individual funds, including the offshore International Opportunities Funds, range will be changed to align the full product range to the new brand – subject to regulatory approval.