07 May 2008
Prudential Corporation Asia appoints new Fund Management Chief Executive
Prudential Corporation Asia is pleased to announce the appointment of Arne Lindman as Chief Executive of its fund management business – one of the largest and most successful in Asia with more than US$74 billion in assets under management (as of Dec 31, 2007).
Based in Prudential’s regional headquarters in Hong Kong, Mr. Lindman will oversee and drive the growth of the company’s portfolio of asset management operations – currently in 10 markets and with more top five rankings than any competitor in the region. He will assume this new role on 4 August 2008 and will also join the Prudential Corporation Asia Board.
An industry veteran with a strong track record of success, Mr. Lindman brings to Prudential Corporation Asia more than 21 years of global experience in managing and growing asset management businesses as well as grooming a pipeline of leaders.
Mr. Barry Stowe, Chief Executive of Prudential Corporation Asia, said: “I'm delighted Arne will be joining the Prudential Corporation Asia team. He is a very talented executive and I am certain he will help us continue to build on and grow our outstanding performance track record in the funds management business.”
“I have been very impressed with what Prudential's asset management business has accomplished in Asia in a relatively short period of time. I am really looking forward to working with the funds management teams across the region to achieve Prudential's significant ambitions in Asia,” said Mr. Lindman.
Mr. Lindman joins Prudential from ABN AMRO Asset Management, Asia Pacific, where he was most recently their Chief Executive Officer and a member of the Global Executive Committee. At ABN AMRO, he developed profitable distribution platforms for the firm’s high-margin products across Asia Pacific as well as for local products in China, Hong Kong, India, Indonesia and Australia.
Under Mr. Lindman’s leadership, ABN AMRO’s business in Asia grew strongly and he also forged a successful joint-venture partnership in China with the Tianjin Economic Development Authority, developed a higher-margin offshore product business in Taiwan and implemented entry strategy for Korea through the establishment of an office in Seoul.
Mr. Lindman was previously Chief Executive Officer for Alfred Berg Asset Management in the Nordic region (part of ABN AMRO Asset Management) and prior to that he was Head of International Equity Products, Chief Investment Officer of International Equities, and Portfolio Manager.
Mr. Lindman began his career with Svenska Handelsbanken Group in Sweden in 1987, with subsequent postings to Luxembourg, London and New York. During his 10 years with Handelsbanken, he assumed a variety of roles including Vice-President and Head of International Equity Mutual Funds while maintaining portfolio management responsibilities for US, Latin America and Nordic equity funds.
About Prudential Corporation Asia
Prudential Corporation Asia, which comprises both life insurance and fund management, is part of Prudential plc* (United Kingdom), a leading international financial group. With over 420,000 agents and staff, Prudential is the leading European-based protection and savings insurer in the region in terms of market coverage and number of top three market rankings. Its insurance operations span 12 markets –– mainland China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
Prudential’s fund management business is one of Asia’s largest and most successful fund managers, with US$74 billion in assets under management (as of 31 December 2007) and more top five rankings than other regional players in Asia. It has an extensive geographic footprint with fund management operations in 10 markets –– mainland China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and the United Arab Emirates.
In Asia, Prudential's fund management business independently manages assets on behalf of a wide range of retail and institutional investors across the region. It is also a fund manager for life and pension products sold by Prudential plc and Prudential Corporation Asia.
* Prudential plc is a company incorporated in England with its head office in London, which, with its affiliated companies constitutes one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for 160 years and had over US$530 billion in assets under management as at 31 December 2007. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.
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