Prudential Investment Management Japan Co. Ltd will rebrand to PGIM Japan Co. The name change takes effect on October 1, 2017. Prudential first opened its Tokyo office in 1998.
TOKYO–(BUSINESS WIRE)–Prudential Investment Management Japan Co., Ltd. (PIMJ), will change its name to PGIM Japan Co., Ltd., to align its brand and the opportunities it can offer clients across asset classes through its global parent, PGIM, the $1 trillion investment business of Prudential Financial, Inc. (NYSE: PRU). The change takes effect on Oct. 1, 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 $40 billion manager of insurance companies in Japan to a global business with $180 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,” said Yasuhisa Nitta, 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.”
Added David Hunt, president and CEO of PGIM: “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 $681 billion active management business, PGIM Fixed Income, along with its real estate investments and commercial mortgage businesses, which combined make PGIM the largest manager of institutional real estate assets globally, per Pensions and Investments.
About PGIM and Prudential Financial, Inc.
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of Dec. 31, 2016. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents. For more information, please visit pgim.com.
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit http://www.pgim.com. For more information about Prudential, please visit news.prudential.com.