Eastspring Expands in One of Asia's Fastest Growing Markets

By acquiring a Thai company, Prudential's asset manager Eastspring grows its presence in more than ten markets in Asia. 

Eastspring Investments, the Asian asset management business of British financial services firm Prudential, has finalised the acquisition of 65 percent of TMB Asset Management from Thailand's TMB Bank.

The acquisition allows Eastspring to expand its footprint in one of the fastest growing Asian markets, the company said on Thursday in a media release.

Option for 100 Percent

Eastspring has also an option to increase ownership to 100 percent in the future and has entered into a distribution partnership with TMB, Thailand’s seventh largest bank by assets1. This partnership enables TMB customers to access and invest in Eastspring’s world-class investments.

TMB Asset Management, Thailand’s fifth largest asset manager, has £10 billion of assets under management which has grown by a market leading 26 per cent (compound annual growth rate) over the last three years, the company said.

Large Presence

This partnership extends Eastspring’s presence to 11 Asian markets, in addition to its offices in the U.S., U.K. and Europe.

Prudential has operated in Thailand for more than 20 years through Prudential Life Assurance (Thailand). The firm serves over 1.5 million customers in Thailand and manages more than 100 billion Thai bahts of assets or $3 billion.