CIMB-Principal Asset Management names new Asean CEO

MALAYSIA-HEADQUARTERED CIMB-Principal Asset Management Group, an asset management company with regional investment capabilities, announced its new Asean CEO Juan Ignacio Eyzaguirre Baraona on Thursday.

He will oversee businesses across the region including CIMB-Principal Asset Management Berhad and CIMB-Principal Islamic Asset Management Sdn Bhd in Malaysia, PT CIMB-Principal Asset Management in Indonesia, CIMB-Principal Asset Management Company Limited in Thailand and CIMB-Principal Asset Management in Singapore. His appointment is subject to approvals by Malaysia's Securities Commission and the Immigration Department.

CIMB-Principal Asset Management group of companies is jointly owned by Principal Financial Group (Principal) and CIMB Group Holdings Berhad (CIMB).

Alejandro Echegorri, who served as CEO of Asean for CIMB-Principal Asset Management group of companies since March 2015, will assume a new role as chief investment officer for Principal International in Asia effective February 2019. "This is an exciting time for CIMB-Principal Asset Management as we grow our presence in South-east Asia," said Pedro Borda, president of South Asia and India for Principal International.

"Juan's 30 years of leadership experience in asset management, banking, insurance and pensions will help us to strengthen our long-term savings, investments and retirement solutions across the region." The group has RM80 billion (S$26.2 billion) in assets under management as at October 2018.