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Prudential hires senior asset allocation specialists

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Prudential Portfolio Management Group has hired two new senior staff to help run the division’s asset allocation.

Michael Coop has joined the firm as head of multi-asset portfolio management, while Ciaran Mulligan will take the role of head of manager oversight. Prudential Portfolio Management Group manages £155.2bn of money in Prudential’s UK fund ranges, including its £76.7bn with profits funds.

The new hires will help to boost asset allocation decisions at PPMG, which allocates mandates to managers, both internal and external.

Coop says: “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.”

Mulligan adds: “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.”

Before joining Prudential Coop worked at Ibbotson Associates, based in Sydney, Australia, where most recently he was head of multi-asset strategies. Mulligan joins from Buck Consultants, where he has been since 2009.

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