Senior appointments at Prudential Portfolio Management Group Ltd.

15 July 2015

Prudential Portfolio Management Group Limited (PPMG) has appointed two new members to its senior management team.

Michael Coop, head of multi-asset portfolio management1, and Ciaran Mulligan, head of manager oversight2, have joined the existing team of over 60 economists, portfolio managers, analysts and risk professionals at PPMG, an asset management business that controls over £155.2 billion of Prudential's investments3.

Commenting on the appointments, Al Denholm, chief executive of PPMG, said: "At PPMG we believe that a large part of investor return can be attributed to asset allocation and that this is a specialist skill which should exist separately from any other activities in any fund.

“As such our team is centred around making strategic and tactical asset allocation decisions and setting active mandates for fund managers, both internal and external to Prudential, across the world.

“We take a team-based approach to managing our range of multi-asset funds and I’m delighted that the appointment of Michael and Ciaran will further strengthen the knowledge and expertise in the senior management team as we work with Prudential UK to build upon the range of investment propositions we offer.”

Michael Coop, head of multi-asset portfolio management, said: “Prudential has established itself as a stand-out multi-asset player in the UK, particularly in the with-profits space where in recent years the PruFund range has been a runaway success. I am delighted to be joining a team with such a well established reputation and building on the already successful approach to managing the with-profits and unit-linked fund ranges.”

Ciaran Mulligan, head of manager oversight, said: “It’s an exciting time to join PPMG. We’re seeing a growth in demand for multi-asset propositions in the wake of the pension reforms and by working with fund managers across the globe, who manage the stock picking process for us within the mandates we set them, we can ensure true diversification across Prudential’s multi-asset fund ranges.”

PPMG is the ‘manager of managers’ for the Prudential Group in the UK and is responsible for managing Prudential UK’s fund ranges, including its With-Profits Fund which, at £76.7 billion4, is one of the largest in the UK.

Notes to editors

1 Michael Coop – Michael joined PPMG in July 2015 as head of multi-asset portfolio management and is responsible for managing Prudential’s with-profits and unit-linked funds. Michael has over 25 years’ experience in fund management and asset consulting. Michael joined Prudential from Ibbotson Associates, based in Sydney, Australia, where most recently he was head of multi-asset strategies. His previous roles include head of alternative investments, Australian equity strategist and global investment strategist. Michael holds an MSc in Finance from the University of London and a BCom in Economics from the University of Auckland.

2 Ciaran Mulligan – Ciaran joined PPMG in May 2015 as head of manager oversight. As part of Ciaran’s role he has responsibility for conducting due diligence on those managers employed by PPMG to manage assets on its behalf. Ciaran has over 14 years of industry experience, most recently at Buck Consultants which he joined in 2009. Previously Ciaran was head of manager research (UK) for Investment Solutions, a South African fund of funds business that is part of the Alexander Forbes group. Ciaran graduated from Heriot-Watt university in 2001 in Actuarial Mathematics and Statistics.

3 As at 31 December 2014

4 As at 31 December 2014

Media contact

Louise Bryans

020 7004 8280

Louise.Bryans@prudential.co.uk

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