UK insurance firm Prudential Plc has named Bill Maldonado as chief executive officer of its asset management unit Eastspring Investments, four months after he assumed the role as interim CEO.
Maldonado took over the duty from former CEO Wai-Kwong Seck in April. Seck announced his retirement in April this year and stepped down from the role in June.
Maldonado’s appointment will be effective September 1, 2023. He will report to Prudential CEO Anil Wadhwani and will join the Prudential Group’s executive committee, Eastspring says in a statement on August 29.
Maldonado joined Eastspring in September 2021 as head of equities and was promoted as chief investment officer in May 2022. He was previously Asia Pacific CIO and global CIO, equities at HSBC Global Asset Management.
Maldonado retained his CIO duties when he took on the role of interim CEO. Eastspring says it will appoint a new CIO in due course.
Singapore-based Eastspring Investments had US$221 billion of assets under management as of December 2022.
