PGIM Inc., the asset management arm of US insurer Prudential Financial, has hired Sun Hao as head of the institutional relationship group for China, a market of “key strategic priority” for the company.
Based in Shanghai, he will focus on building brand recognition and deepening ties with Chinese banks, pension funds, and insurance companies in the newly created position, PGIM says in a statement on January 8.
Mr. Sun was previously the general manager of US asset manager Legg Mason’s Shanghai office.
At PGIM, he reports to Philip Hsin, head of the company’s institutional relationship group for Asia Pacific ex-Japan.
According to PGIM Chief Executive Officer David Hunt, Mr. Sun’s appointment “will deepen our existing client relationships, while also identifying new opportunities”.
“China is a key strategic priority for PGIM, and we believe that our deep expertise across public and private assets combined with our scale, positions us to meet the evolving needs of China’s client base,” Mr. Hunt says in the statement.
PGIM had US$1.3 trillion of assets under management as of September 2019.