Eastspring Investments, the Asian investment management arm of Prudential, has opened its new Shanghai office for its Wholly Foreign Owned Enterprise (WFOE) in China.
The office will be a full-service investment and distribution office, with the aim of serving the investment needs of high net worth individuals in China.
It will look to offer Chinese investors the opportunity to invest in Eastspring’s global offshore funds and provide global investors with the opportunity to invest directly in China via Eastspring’s onshore investment team.
Nic Nicandrou, chief executive, Prudential Asia, said: “We see China as a central part of Prudential’s success, now and into the future.
“Prudential is committed to serving the long-term protection needs of the Chinese people and helping safeguard their financial future.
“We remain steadfast to this commitment as we accelerate our growth in China with the opening of Eastspring’s Shanghai office.”
Eastspring currently employs 11 people in its Shanghai office, including five investment professionals, and is looking to have 20 staff by the end of 2019.
This office opening comes after International Adviser reported in October that the firm had obtained a licence to sell equity, fixed income and multi-asset products to high net worth individuals and institutions in China.
