Published by Asia Asset Management – 2nd Jan 2019
Singapore’s Fullerton Fund Management (Fullerton) is believed to have hired Mark Yuen away from Eastspring Investments to become its chief business development officer.
He begins in the newly created position this week and will be responsible for building Fullerton’s regional business, Asia Asset Management (AAM) understands.
Mr. Yuen, a former official at Singapore’s central bank, was head of institutional sales at Eastspring Investments, the Asian investment management arm of UK insurer Prudential plc.
His new job brings him full circle as he and Fullerton’s Chief Executive Officer Jenny Sofian were colleagues at Amundi, which he left ten years ago.
“He (Mr. Yuen) will be taking over the responsibilities of Trevor Chudleigh, who left Fullerton in January 2018 as its head of business development,” a person familiar with the matter tells AAM. According to this person, Mr. Chudleigh has since co-founded a venture capital firm in Singapore.
A Fullerton spokesperson did not immediately respond to questions from AAM.
Mr. Yuen had worked at Eastpsring Investments since June 2012. He joined the company from Robeco, where he was director and head of business development for four years.
Prior to that, he was Amundi’s head of sales and marketing for Southeast Asia from 2005 to 2008, at which time Ms. Sofian was managing director of Amundi Singapore.
Mr. Yuen began his career at the Monetary Authority of Singapore, where he held various positions over six years. He was assistant director of the central bank’s asset management division when he left in 2003.
Fullerton, a subsidiary of Singapore’s state investment firm Temasek Holdings, had S$17.9 billion (US$13.14 billion) of assets under management at the end of 2017.
That figure has since grown to over S$40 billion as Fullerton is also managing NTUC Income’s assets of some S$23 billion after the insurer became a minority shareholder in Fullerton’s parent company FFMC Holdings in December 2017.
