Prudential Investment Management Japan (PIMJ) is to change its name to PGIM Japan, to align its brand through its global parent, PGIM.
The change takes effect on 1 October 2017.
PIMJ traces its roots to 1998, when Prudential first opened a Tokyo office to manage securities for Japanese clients. The company has evolved from a USD40 billion manager of insurance companies in Japan to a global business with USD180 billion in assets under management and fourfold growth in third-party assets over the past five years alone.
“Our new name reflects the breadth of PGIM’s asset management advice and solutions that, through the trust of our clients, has helped us grow to become a holistic, global investment manager,” says Yasuhisa Nitta (pictured), PIMJ’s president and CEO. “Now, in alignment with PGIM and its asset managers around the world, we can meet the increased demand from our clients across credit, real estate, and other alternative solutions that offer the potential for higher yields.”
David Hunt, president and CEO of PGIM, says: “We remain committed to serving the needs of our clients in this important market, especially as they look for advice and risk-controlled, actively managed, yield-generating strategies. As long-term investors, PGIM is well-positioned to provide access to those opportunities given our asset management capabilities across traditional and alternative asset classes.”
The firm currently has approximately 100 asset management professionals in Japan with a large fixed income presence, through its USD681 billion active management business, PGIM Fixed Income, along with its real estate investments and commercial mortgage businesses.
