Lazard Asset Management has appointed Paul Cuddy as the new head of its Asia Pacific business, replacing Rob Prugue who will retire from the asset management industry.

In the new role, Cuddy will continue to grow the firm’s institutional business as well as expand its retail efforts. The changes will be effective from 28 February 2018.

Cuddy joined Lazard last year and currently serves as the firm’s head of sales. He previously was the co-founder and CEO of Bennelong Australian Equity Partners, and director and co-head of equities at ING Investment Management.

Prugue, who has been in the asset management for three decades, joined Lazard in 2002.

“I am appreciative of the experiences and growth opportunities that LAM has provided me with over the past 15 years. I believe that the vibrant and collegial environment I have enjoyed being a part of at LAM, will continue to thrive,” Prugue said.

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