Eastspring Investments, the Asia-based asset management business of life insurer Prudential, has appointed Bill Maldonado as its interim chief executive officer from 6 April.
Maldonado’s appointment follows the retirement of former CEO Wai-Kwong Seck, who had held the post for four years, Eastspring announced on Monday.
Seck will stay on at the asset management firm until the end of June to support Maldonado and the team in the transition.
Eastspring manages over $221 billion in assets as of 31 December on behalf of institutional and retail clients.
Maldonado, who joined the firm in August 2021 as its chief investment officer, will retain this role to “focus on investment performance,” Eastspring added.
It said that he is well-placed to lead the firm with close to 30 years of experience in asset management as well as in leading teams globally.
Prior to joining Eastspring, Maldonado served as both the Asia Pacific and global chief investment officer for equities at HSBC Global Asset Management.
Responding to queries from FSA on when the firm is looking to appoint a permanent CEO, Eastspring said: “We are undertaking a thorough process to ensure that we find the right candidate for the business and will provide more information at the appropriate time”.
