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Hirotaka Kato has joined PGIM Japan in a newly-created position.
PGIM Investments has appointed Hirotaka Kato as head of portfolio solutions for Japan, a newly created role based in Tokyo.

The $1.5trn global investment management business of US-based Prudential Financial, aims to expand its business in Japan and said Kato is set to play a key role.

He will be responsible for developing relationships with Japanese insurance companies and institutional clients with a view to offering them multi-asset investment solutions, according to a statement from PGIM.

Kato (pictured) was formerly co-head of investment banking and a senior executive officer at Citi Japan where he served for over 15 years. Prior to that, he had roles at HSBC and KPMG.

Taisaku Kunisawa, president and CEO of PGIM Japan, said: “Japan’s changing regulatory environment and the end of a prolonged period of deflation present new challenges and opportunities for Japanese institutional investors.”

“The addition of holistic portfolio solutions is a key strategy of accelerating PGIM’s business in this critical growth market.”

“Kato will play an instrumental role in helping our insurance and institutional clients navigate this changing environment.”

Kato is set to work with PGIM’s Portfolio Advisory business which was launched in 2022 to provide integrated solutions for insurance companies, pension funds and institutional investors.

Commenting on the appointment, Phil Waldeck, CEO of PGIM Portfolio Advisory said: “The expansion of PGIM Japan’s capabilities reiterates PGIM’s commitment to providing Japan’s leading insurers and institutional investors with integrated private and public credit strategies and portfolio construction, including liquidity and duration management and asset liability management.”