Industry veteran and head of Lazard Asset Management Asia-Pacific, Rob Prugue has announced he is leaving the business.
The company announced late on Friday that Prugue would be retiring from the asset management industry and would be leaving the business effective 28 February.
The announcement said that the current Managing Director and Head of Sales for Lazard Asset Management, Paul Cuddy would take over as chief executive of Lazard Asset Management Pacific from 28 February.
The company’s statement quoted Prugue as describing retirement as “bittersweet”.
“I am appreciative of the experiences and growth opportunities that LAM has provided me with over the past 15,” his statement said. “I believe that the vibrant and collegial environment I have enjoyed being a part of at LAM, will continue to thrive.”
The company announcement said Cuddy would be responsible for the oversight of the business in Australia and New Zealand and in addition to continuing to grow the institutional business would focus on expanding its retail efforts.
