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Eastspring Investments announces new CEO for Malaysia Islamic Fund Management business

Wednesday 03 February 2016

KUALA LUMPUR (03 February 2016) - Eastspring Investments (“Eastspring”), the US$125 billion Asian investment management arm of Prudential plc, and one of Asia’s largest investment managers, announced today that Mr Chung Yee Wah has been appointed as Chief Executive Officer of Eastspring Al-Wara’ Investments Berhad, Malaysia, effective 29 December 2015. Mr. Chung was previously the Head of Institutional Business at Eastspring Investments Berhad.

As Chief Executive Officer, Mr Chung will be responsible for the strategy to grow our Islamic funds business.

Prior to joining Eastspring, Yee Wah was the Chief Investment Officer at Kenanga Islamic Investors where he played a key role in setting up and overseeing all of the Shariah-compliant funds. With more than 20 years of experience in the industry, covering both investment and sales disciplines, he previously worked for UOB-OSK Asset Management, AmInvestment Bank, the Abu Dhabi Investment Authority and HSBC Securities.

"Yee Wah is a strong business leader with extensive asset management experience and we look forward to the continued contribution he will make to Eastspring," said Mr. Guy Strapp, Chief Executive of Eastspring Investments. "This appointment also reflects Eastspring's long-term commitment to Malaysia and our vision to be the Islamic fund manager of choice offering innovative Shariah-compliant investment solutions to our clients."

Eastspring Al-Wara' Investments Berhad was established in December 2009 as the regional Shariah asset management hub of Eastspring Investments. Based in Kuala Lumpur, Eastspring Al-Wara' Investments Berhad manages approximately US$94 million of Shariah compliant assets (as at 30 September 2015). Eastspring Al-Wara’ Investments Berhad is also part of the Malaysian International Islamic Financial Centre community, which among others, focuses on supporting the development of the Malaysian Islamic Capital Market and positioning Malaysia as the leading international Islamic financial hub.

Eastspring Al-Wara' Investments Berhad is an indirect subsidiary of Prudential plc, a company incorporated in the United Kingdom. Neither Eastspring Al-Wara' Investments Berhad nor Prudential plc is affiliated with Prudential Financial Inc, a company whose principal place of business is in the United States of America.