Regional - 14 February 2012
Prudential plc today rolls out a single global brand for its Asia regional funds business, Eastspring Investments, with CEO Graham Mason bullish on the opportunities for investors despite current market volatility.
Eastspring Investments will remain part of Prudential Corporation Asia. The new brand replaces a number of different business names that the asset management business has operated under across Asia. With the adoption of Eastspring Investments, trademark barriers to the USD$80 billion funds business taking its Asia expertise to new investors beyond the region are removed.
Eastspring Investments encapsulates the business' Asia expertise, heritage and strength while remaining firmly part of the Prudential group.
"The launch of Eastspring Investments is timely as it signifies our growth aspirations at a moment when we believe shrewd investors can unlock real value in the markets and hope to grow their investments with us," Chief Executive Officer, Graham Mason said.
"We are rebranding to accelerate growth. The Eastspring Investments brand removes barriers preventing us from penetrating Asian and European markets efficiently. It also enables us to market our offshore product range worldwide, and to enter new territories, such as North America.
"Our outlook for 2012, and the ethos of Eastspring Investments, is that significant opportunities exist for the astute investor. While the world economy continues to look uncertain, we believe markets have discounted that risk significantly. For those who trust their investments to the experts, there is value to be unlocked. It is certainly not all doom and gloom."
The theme of Asia expertise also sits at the heart of Eastspring Investments' first advertising campaign. Featuring a mix of television, print and online media across the region, the new campaign, (developed with Ogilvy & Mather) is the most ambitious to be run by Prudential's asset management business. The campaign will be launched across the different markets over the next two weeks and will also include regional broadcast and online media.
Graham Mason commented: "The new campaign's core theme captures our position perfectly: ‘No one sees Asia like we do’. That reflects the investment philosophy, analytical insight and service excellence upon which we pride ourselves. Prudential has been investing in Asia for more than 150 years.
"Our heritage, broad Asian presence and deep knowledge of the region are second to none. These are the qualities that underpin our new brand and they are what give us such a compelling story for investors looking to engage with the world's fastest growing region."
The newly-branded business will gain a new non-executive Chairman, with the appointment of Don Kanak. Mr Kanak has lived and worked in the insurance and asset management industry in Asia since 1986. He has served as Chairman of Prudential Corporation Asia since early 2008 and will assume his new role with immediate effect.
Barry Stowe, Chief Executive of Prudential Corporation Asia said: "I am delighted that Don has agreed to take up this key role, particularly at such a critical turning point for the business. His appointment exemplifies the degree to which Eastspring Investments is at the heart of Prudential Corporation Asia's growth strategy for the Asian century ahead of us."
The different business entities in Hong Kong, Japan, Malaysia, Singapore, South Korea, Taiwan, United Arab Emirates and Vietnam will now adopt Eastspring Investments as their respective company names. Prudential's full product range, including the suite of offshore International Opportunities Funds (IOF), will be renamed Eastspring Investments. The new identity will not apply to joint venture operations.
Prudential's life insurance companies will continue to operate ‘business as usual’, with no change to the terms of existing policies.
The management philosophy, corporate structure and investment strategy of the Funds business remain unchanged.