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Money Management

Eastspring Investments picks first head of U.S. institutional

Matthew Appelstein was named head of U.S. institutional at Eastspring Investments, the $193 billion Asian investment management arm of Prudential PLC.

The Chicago-based position is a new one at Eastspring, confirmed a spokeswoman for the firm.

Mr. Appelstein previously served as managing director and head of U.S. distribution with RBC Global Asset Management U.S., departing in March 2018. He was replaced by Michael Refojo, previously head of U.S. institutional sales at RBC.

Mr. Appelstein said in an email he had done consulting work for a number of firms in the interim.

An Eastspring news release said Mr. Appelstein will work closely with Jeff Smith, Eastspring's head of the Americas. The spokeswoman said Mr. Smith will focus his efforts in Latin America.