M&G Investments Names Loretta Ng as Head of Asia

M&G Investments, a unit of UK-based M&GPrudential has appointed Loretta Ng as its new head of Asia, according to an announcement by the company.

Ng takes over her new role in Singapore starting on 1 November as she joins the firm from another Prudential affiliate, Eastspring Investments, where she has served as CEO of the financial services firm’s Taiwan unit since 2011.

“We are delighted to welcome Loretta Ng as M&G Head of Asia,” Graham Mason, M&G Investments’ Chief International Officer said in a statement. This is a great step forward for our business in Asia as we continue to invest for long term strategic growth in the markets of Hong Kong, Singapore, Taiwan, Japan, South Korea and China.

New Leader Named in Run-Up to Stock Listing

M&G is announcing its new leader for Asia as the company, the real estate division of which manages £33.5 billion ($42.8 billion) in assets, prepares to be spun off from its parent company, Prudential PLC. M&G PLC will have its own independent listing on the London Stock Exchange as of 21 October.

Prior to being named CEO of Eastspring Taiwan eight years ago, Ng had served as Chief Marketing Officer for the Taiwan firm, as well as having been employed as Head of Product, Marketing and Business Operations for Eastspring Singapore. The University of Calgary graduate also served on the board of Eastspring’s asset management joint venture in China for three years.

In her new role, Ng will report to Mason, as well as to M&G’s Head of Distribution for asset management, Joffy Willcocks. The position of head of Asia with M&G became available one year ago when Alex Jeffrey was hired away from the company by Savills Investment Management to be that firm’s Global CEO based in Singapore, a role which he has yet to assume.

M&G Expands Asia Operation

In its statement M&G pointed out that Ng’s hire was part of an ongoing expansion of its equity fund management and research efforts in Asia, with the company having added four investment professionals based in Hong Kong and Singapore in September alone.

In January of this year M&G Real Estate agreed to pay around S$400 million (then $295 million) to purchase, on a forward funded basis, a Singapore office project being developed by engineering and infrastructure consulting firm Surbana Jurong, with the Singaporean firm agreeing to fully lease the seven-storey property as part of the deal.

In November last year M&G’s real estate fund management division acquired a portfolio of Japanese residential assets for $83.7 million.