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Prudential enters the mutual fund market in Thailand The acquisition of TMB Asset Management Company (TMBAM) acquires 65% stake in TMBAM.
"Enterprises" reported that East Spring Investments, a Prudential asset management business in Asia. Eastman acquired a 65% interest in TMB Asset Management Co., Ltd. (TMBAM). In the future, East Spring has the right to increase its stake to 100%. As part of this acquisition, East Spring has entered into a partnership agreement with TMB to provide its leading investment banking services. [19659] 003] At present, Thai Military Asset Management is the fifth largest asset management company in Thailand with over 10,000 million assets under management. and a compound annual growth rate of 26% over 3 years. Last year
"helped reaffirm Prudential's commitment.It also contributes to the rapid growth of Prudential Life Insurance business.It also provides opportunities for East Spring.The market the largest and most dynamic of ASEAN.The completion of the transaction is subject to prior approval in partnership with TMB Bank, the seventh bank in terms of assets. has more than 400 branches and more than 6 million customers and it is believed that this merger will enhance the growth of TMB's assets. "
East Spring is a corporation. Asset Management for Retail Clients in Asia It has assets under management of £ 139 billion and has been operating in Asia for almost 25 years. East Spring has increased the number of companies to 11 in Asia.
Nick Nichols, CEO of Prudential Corporation Asia, said that Asia is an important growth context. In Prudential And accelerate the growth of asset management business is a key strategy in the first place. This acquisition will strengthen Prudential's presence in Thailand. This reflects our commitment to meeting the growing investment needs of our customers in this region. With the experience and expertise of East Spring, we have the ability to increase our investment support for our quality life insurance business. in another way.
EAST STEPP, chief executive Eastwood Investments, said the operation is strengthening activities in Asia. East Spring has a long history of success in establishing a business partnership. They are ready to help promote the market.
"We see a great opportunity for growth in Thailand, this agreement also enhances the potential for mutual development, and we also offer leading investment services in the rapidly growing mutual fund market. Thailand. "
Mr. Piti Tadakasem Chief Executive Officer We are pleased to announce a partnership with Prudential.It is an international voice company.Prudential has a strong presence in Thailand.And we believe in cooperation with East Spring We will be able to provide services to meet the needs of our customers
"East Spring is the partner we are looking for to meet the growing investment needs of our customers. It develops and delivers regional and global investment services through state-of-the-art quality products, "said Mr. Piti. is_in_tdc_iframe = false
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