Published by Asia Asset Management – 29th Jan 2019
Two top executives at Eastspring Investment, the Asian asset management arm of UK’s Prudential plc, have resigned as a new chief executive officer (CEO) prepares to take the helm of the Singapore-based company.
Phil Stockwell, who was Eastspring’s chief operating officer (COO), has left and Chief Financial Officer Ted Pull is departing at the end of the month, a company spokesperson tells Asia Asset Management.
Jeroen Buwalda, who was the head of strategic transformation, has been promoted to replace Mr. Stockwell with immediate effect, she says.
Last week, Eastspring announced the appointment of Wai-Kwong Seck as CEO, succeeding Guy Strapp who is retiring after 12 years at the company, six of them as the top executive.Mr. Seck, who starts his new job on April 15, was previously the Hong Kong-based Asia Pacific CEO of State Street Bank and Trust Co. Mr. Strapp is staying on until April to “ensure a smooth transition”, Eastspring said on January 23.
Mr. Stockwell, who has been at the company since joining as COO in 2014, played a “critical role in transforming the way we work and led the successful delivery and implementation of our target operating model”, according to the spokesperson. She couldn’t immediately say when he left.
She says Mr. Pull, an 18-year veteran of the company, will remain until the end of February and that Eastspring is currently in the midst of appointing his successor.
In the mean time, Ben Bulmer, the Hong Kong-based chief of finance of Prudential Corp Asia (PCA), will oversee Eastspring’s Singapore-based finance team led by Wee Yen Tan, who has been with the company for over 17 years, she adds. PCA comprises Eastspring and Prudential’s life insurance operations in Asia.
Eastspring had US$195 billion of assets under management as of the end of September 2018.
