Rajeev Mittal appointed CEO of Prudential’s asset management arm

Rajeev Mittal will lead Prudential’s asset management business, Eastspring Investments, from Jul 1. He will replace Bill Maldonado, who will retire and return to the United Kingdom where his family has been living for the past four years, said Prudential in a press release on Thursday (May 22).

Mittal will report to Prudential’s CEO Anil Wadhwani.

He will also be part of the Prudential group executive committee.

Mittal was the managing director, Asia Pacific ex-Japan, of Fidelity International for six years before leaving the investment management services firm in October 2024.

Prior to Fidelity, he spent 26 years at AIG and PineBridge Investments, where he served as CEO of both PineBridge Europe and PineBridge Asia Pacific.

Wadhwani, Prudential’s CEO, said that Mittal’s “deep expertise” in the Asian markets, as well as his track record in managing and scaling asset management businesses and client relationships, will contribute to the growth of Eastspring.

Meanwhile, Maldonado will remain as an adviser to the business until the end of September 2025 to ensure a seamless leadership transition. He will also continue to serve as a board member of ICICI Prudential Asset Management Company.

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