Eastspring Investments, the asset management arm of Prudential Corporation Asia, has received regulatory approval for its London office, which will act as the European marketing hub.
It has also appointed two key sales staff to start its Europe push.
Russell Danby joins as head of wholesale business, UK and Europe, and from Capital Group, where he was vice president.
Gordon Hogarth joins the asset manager as head of institutional business, Europe and the countries of the Gulf Cooperation Council. He was previously a managing director and head of European distribution at Affiliated Managers Group.
Meanwhile, Piers Wheeler, director of institutional business, will relocate from the asset manager’s central investment hub in Singapore.
Eastspring opened an office in Luxembourg in April.
Guy Strapp, chief executive officer, told Funds Europe in July that Eastspring Investments initially set up its funds in Luxembourg to sell them back into Asia. He said the portability of the Sicav range was “a major draw”.
“Our distribution team will look at extending Eastspring Investments’ relationships with the European offices of global and private banks' in order to distribute our range of Sicav funds,” Strapp says.
“Our institutional sales team will develop relationships with European and Middle Eastern institutions who are seeking to increase their exposure to the world’s fastest growing region.”
Eastspring Investments has more than $94 billion (€69.6 billion) of assets under management, mostly sourced from Asia.
The Sicav range of funds, which is domiciled in Luxembourg, holds about $18 billion in assets.
©2013 funds europe