TMB heightens TMBAM’s position to make customers “Get MORE”, with Eastspring Investments, a world-class investment expert and one of Asia’s largest asset management firms as a strategic partner
TMB announced today that the Bank has agreed to partner with Eastspring Investments (“Eastspring”), Asia’s top asset management firm, which is a member of Prudential plc Group, to strengthen TMB Asset Management Co., Ltd. (TMBAM) position to make customers “Get MORE” in line with the Bank’s goal. With Eastspring, TMBAM customers will have access to a range of world-class investment products and services. TMBAM shareholding will be changed from wholly owned by TMB to be 65% held by Eastspring and the rest 35% by TMB. Subject to approval from the concerned authorities.
Mr. Piti Tantaksem, Chief Executive Officer of TMB, said, “TMB sees that the partnership with Eastspring will create a positive impact for TMB and TMBAM customers because Eastspring has the expertise in asset management in various dimensions at a global level. Eastspring has total assets under management of more than USD188 billion (as at 31 December 2017). It has a strong footprint in Asia, with 10 offices in Asia and offices in Luxembourg, London, and Chicago to serve international customers. Eastspring brings with them the expertise that will help enhance the profile and unleash the potential of TMBAM. Furthermore, the partnership with Eastspring supports our strategic endeavor of ‘TMB Open Architecture’ which is aimed at creating more opportunities for customers to get access to world-class products & services and more variety of leading foreign mutual funds. This will enable customers to ‘Get MORE’ with us. In its fourth year since inception, TMB Open Architecture has already proven to be the right strategic service which creates real benefits for customers, opening up the investment opportunities, so that our customers have more choices to get better returns from a selection of quality mutual funds for all groups of our customers.”
TMB was the lead co-founder of TMBAM in 1996 and is the current sole owner of the company. During the past three years, TMBAM has enjoyed good growth, with a 26% compound annual growth rate.
Mr. Piti also said that the current management team of TMBAM, led by Dr. Somjin Sornpaisarn as CEO, will remain and will be joined by a team of experts from Eastspring to help the company achieve its full potential. TMBAM mutual fund units which are held by customers will not be affected. Instead, the customer will gain more benefits and opportunities for better returns from the strengths of TMBAM in serving customers, which will be enhanced by Eastspring’s expertise and its global network.
