Prudential Investment Management Japan, a Tokyo-based money manager that had been part of the international investment business of parent Prudential Financial, has become a unit of Prudential Fixed Income, confirmed spokeswoman Theresa Miller.
The move was made for organizational and personnel reasons; Prudential Investment Management Japan will continue to manage assets independently, Ms. Miller said.
Yasuhisa Nitta, president and CEO of Prudential Investment Management Japan, now reports to James Sullivan, senior managing director and head of Prudential Fixed Income.
The organizational change comes on the heels of Prudential International Investments, which included the Japan manager, being moved in January to Prudential Investment Management.
Prudential Investment Management Japan manages mostly Japanese fixed income, although it runs a small amount in Japanese equities, Ms. Miller said.
Prudential Fixed Income managed $400 billion in assets as of March 31; AUM for the Japanese business was not available.