Staff writer
U.S. financial group Prudential will announce plans next week to enter Japan's pension management business and establish a foothold ahead of reforms expected to allow "defined contribution" pension plans, Prudential Executive Vice President Rodger Lawson said.
Lawson, who is in charge of international investments and global marketing communications at Prudential, declined to discuss details of the move during an interview with The Japan Times. However, the New Jersey-based group is expected to strengthen its existing investment advisory unit in Japan, Prudential Investment Advisory Co., so it can begin to manage pension funds under the defined benefit format.