Eastspring Investments, the asset management arm of Prudential Corporation Asia, today announced that Graham Mason will be stepping down as Chief Executive, and will take on the new role of executive vice chairman of Eastspring Investments. Guy Strapp, who has been with Eastspring Investments for more than six years, will assume the role of Chief Executive.
In his new role, Mr Mason will continue to maintain executive responsibility within Eastspring Investments for the asset management joint venture companies in India, China and Hong Kong, including continuing to serve on the appropriate boards. He will continue to serve as Chairman of Eastspring Investments (Singapore) Limited, the core of the Eastspring business.
Mr Strapp has spent more than 25 years in asset management roles in Australia and across Asia. He joined the firm in 2007 and has served as Chief Investment Officer and as a key member of the leadership team. Mr Strapp is Chief Executive of the Singapore and Hong Kong businesses.
This planned leadership transition will take effect on 1 August, 2013.
Eastspring Investments recently announced plans to expand its distribution activities to Europe, with the establishment of a management company in Luxembourg. That entity has also applied to open a branch office in the United Kingdom which is currently under consideration by regulatory authorities.
The business also expanded its Asia asset management footprint last year with the opening of an office in Indonesia.
"Currently, most of our assets under management of about US$95 billion are sourced in Asia and with this very strong base and industry leading investment capabilities we are well positioned to capture the increasing global appetite for diversification into this region.” Mr Strapp said. Together, Mr Mason and Mr Strapp oversaw the rebrand of the business early last year to Eastspring Investments which has transformed the organisation and enabled the distribution of its Asia investment capabilities to new markets beyond the region.
"The business had a solid foundation that had been established before I was appointed three and a half years ago. Since then, Eastspring Investments has built on the core of its point of difference – its trusted Asia investment expertise. Today the business bears a new brand and identity symbolising our investment expertise and Asia focus,” Mr Mason said.
Assets under management have grown from about US$68 billion to close to US$100 billion during the past three and a half years. The growth in the business resulted in Eastspring Investments being recognised as the largest Retail Manager in Asia (Asia Asset Management, Sept 2012).
Mr Mason, who has been part of the asset management team in the Prudential Group for more than 20 years, said he looked forward to being part of the continued growth of Eastspring Investments.