PGIM Investments has hired David Chang into the senior leadership position of Asia vice-chairman as the Prudential-owned asset manager seeks to boost its presence in the region.
The firm said it has seen an increased demand from Asian intermediary investors and private banks, in particular looking for income-focused, alternative and ESG-related investment.
In this newly created role, PGIM said, Chang will oversee the firm’s asset management businesses in India and Taiwan, as well as its joint venture in China with partner Everbright Securities.
Chang reports to Stuart Parker, president of PGIM Investments, and is based in Hong Kong.
PGIM Investments is the retail and high net worth distribution arm of PGIM, the $1.5 trillion global investment management business of US-based Prudential Financial.
As vice-chairman, Chang will additionally play a key role in building out the Asian hub for PGIM Investments, as well as enhance PGIM’s overall presence and focus in the region.
Chang will particularly support the growth of the global intermediary business in China, Parker said. “Building out our Asia-based team with exceptional local leadership is a top priority.”
He joins PGIM from Franklin Templeton where he spent more than 20 years, formerly as China CEO. He also held previous senior sales and business development roles at the firm.
Chang sits on the board of independent advisers to the Family Office Association in Hong Kong, providing advice on family governance, running family business and philanthropy. He is also an adviser to the Raffles Family Office in Hong Kong.
- George Russell
READ MORE:
ADB, Citi, HSBC, Prudential Hatch Plan for Asian Coal-Plant Closures
Hong Kong Tycoon Urges Family Office Policy – HK Standard
Nomura Sees Future in Asian High Net Worth Clients
