Eastspring Investments’ Chief Investment Officer Virginie Maisonneuve has departed the company and the position will not be filled.
Instead, the company’s investment department has been revamped into two new teams whose heads will take over the role and responsibilities of a CIO, according to Eastpsring, which says Ms. Maisonneuve left to pursue other opportunities.
In a statement on September 25, the company says its investment department has been restructured to create an investment fund strategies team headed by Ooi Boon Peng, chief executive officer of Eastspring Singapore and Hong Kong, and an investment solutions team, headed by Kevin Blacklock. Mr. Blacklock is currently chief investment officer for global assets solutions.
Eastspring Chief Executive Wai-Kwong Seck says a "strategic review" has been carried out to ensure the company has the "right structure in place to capitalise on current and future market opportunities".
"In the current investment environment, clients’ needs are becoming increasingly complex with many looking beyond single strategy investment products and traditional balanced portfolios. As such we are restructuring our investment department to ensure we are well positioned for the future and fully able to capitalise on the current market opportunities," Mr. Seck says in the statement.
He thanked Ms. Maisonneuve whom he says helped strengthen and diversify the company's investment capabilities, and wished her well in her future endeavours.
Eastspring, the Asian asset management arm of UK insurer Prudential plc, had US$193 billion of assets under management at the end of 2018.