Prudential takes strong Asia focus

Prudential has launched a new brand, Eastspring Investments, to unify its asset management operations in Asia, and replacing various current asset management brands in most markets.Prudential worked with The Brand Union for the re-branding effort.The new brand is aimed at creating a unified brand across its eight businesses (excluding joint venture businesses) which currently operate under different names across Asia.It also aims to highlight the Asian heritage of the business as well as its geographic presence and understanding of the region to allow growth within Asia and outside of Asia, particularly of its offshore fund products.The new brand name will replace the different business names currently in used in Hong Kong, Singapore, Malaysia, Taiwan, Japan, Korea, United Arab Emirates and Vietnam. It will not apply to joint venture operations in China and India, or in Hong Kong through BOCI-Prudential and re-branding plans are still subject to regulatory approval.Prudential Corporation Asia chief executive Barry Stowe said that the new branding would be launched across the region in the first quarter of 2012. The new identity will be linked closely to Prudential and its Prudence image, and will be emphasized as a core business within Prudential Corporation Asia."Now, we are creating one unified brand for the business which we can use around the world. The Asia focus of this business offers a compelling investment story, particularly for global investors looking to diversify into the fastest growing region in the world," Stowe said.He added that The Eastspring Investments brand was aimed at penetrating Asian and European markets more efficiently and entering new markets such as North America.Graham Mason, who heads the Asia asset management business said that the announcement was limited branding only and would have no impact on the business' operations, investment strategy or leadership.Prudential Corporation Asia's fund management business has about US$80 billion under management (as at 30 September 2011) and operates in 10 markets across the region. It employs about 2000 people in Asia, with investment teams in eight markets and a core team of investment managers based in Singapore.