Eastspring Investments, the Asian asset management business of Prudential, is reorganizing its leadership team.
It has appointed Ooi Boon Peng as the company’s chief executive officer for Singapore and its regional fixed income officer.
Ooi replaces Phil Stockwell, who will refocus solely on his chief operating officer (COO) role. Stockwell has been the company’s COO since 2015. He was appointed as the CEO for Singapore in 2016.
Guan Yi Low will succeed current CEO Ooi as the chief investment officer for fixed income.
Meanwhile, Michele Bang has stepped down as the head of distribution.
Bang, the company’s deputy CEO, will lead establishment of Eastspring's digital business model with a focus on building better propositions for its clients.
Xavier Meyer will succeed Bang as the company’s head of distribution. He joined Eastspring in 2014 as head of product strategy and development before assuming his current role.
Earlier in March, Prudential announced plans to demerge its UK and Europe business, M&G Prudential.
Following the demerger plans, Prudential will be able to focus on the growth potential of its market-leading businesses in Asia and the US.
Prudential’s Asia businesses will be part of an international group that is entirely focused on increasing the investment needed to extend its leadership positions and to capture growth in some of the most exciting markets in the world, an Eastspring spokesperson said during the time of the demerger announcement.