Prudential Fixed Income adds Japan business to global platform
NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Fixed Income today announced that Prudential Investment Management Japan Co., Ltd has become part of its global organization. Prudential Fixed Income is a fixed income asset management and advisory business of Prudential Financial, Inc. (NYSE: PRU ) .
PIMJ, a registered Japanese investment management and advisory company that was formerly part of Prudential’s International Investment business, has been the company’s platform for conducting asset management business in Japan and will continue to be a critical part of its business in Asia. As part of the transfer, effective May 1, Yasuhisa Nitta, head of PIMJ, now reports to James Sullivan, senior managing director and head of Prudential Fixed Income.
PIMJ, which manages assets for Prudential’s Japanese insurance operations, institutional investors and investment trust funds, has been focused on providing broad investment capabilities of Prudential Fixed Income to Japanese institutional investors. Existing product lines include a domestic yen fixed income actively managed product, as well as domestic and foreign credit products.
“As a critical part of our business in Japan, PIMJ will now benefit from the stability of our global fixed income platform as it expands and improves its capabilities,” Sullivan said. “Both businesses will be able to leverage their combined resources across investment management, credit research, infrastructure and marketing as we further grow our global business.”
Prudential Fixed Income, with $400 billion in assets under management as of March 31, 2013, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J., and in its affiliate offices in London and Singapore. For more information, please visit http://www.prudentialfixedincome.com.
Prudential Financial, Inc., a financial services leader with more than $1 trillion of assets under management as of March 31, 2013, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com.
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