Eastspring snaps up industry veteran Andy Yang
29 May 2014
Category: News, Asia, China, Hong Kong, India, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, Indonesia, Vietnam
By David Macfarlane
Eastspring Investments, the asset management arm of Prudential Corporation Asia, has appointed Andy Yang to the new role of head of insurance relationship. Taking up his new position in June, Mr. Yang will oversee all aspects of the firm’s relationship with Prudential’s insurance businesses across Asia - he will report to Eastspring's deputy chief executive, Michele Bang.
Mr. Yang will work closely with the CEOs and leadership team of Prudential Corporation Asia’s insurance businesses across the region to bolster the relationship with what is Eastspring’s largest institutional client. Prudential has insurance businesses in 13 markets: Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. As of March 31, 2014, Eastspring was managing over US$$100 billion in assets under management, primarily sourced from across Asia.
“The creation of this new senior role underlines the importance we place on our partnership with Prudential’s insurance businesses,” said Guy Strapp, chief executive, Eastspring Investments. “Andy brings extensive industry experience in investments, portfolio management and product development to the table. He is a strong leader and is widely respected in the industry. Mr. Yang’s experience across various key functions within the asset management industry will bring significant value to this important role.”
Most recently, Mr. Yang was the group head of investments and asset liability management at FWD Group, with responsibility for investment teams across four countries. Before that, he spent several years in senior leadership roles at ING Investment Management Asia Pacific, including head of investment process and business management for Asia, chief investment officer of the multi-asset division of ING Investment Korea, and chief investment officer of ING Life Taiwan.