Everbright Pramerica Fund Management, the Chinese fund management joint venture of US insurer Prudential, is believed this week to have poached the top executive of a rival company controlled by American International Group, the Financial Times reported, citing unidentified sources. Fu Teh-Hsiu, chief executive of AIG's Chinese fund management joint venture, may replace Paul Thompson, the chief executive of Everbright Pramerica. Reportedly, Thompson has been under pressure to resign amid the declining performance of the company's mutual fund.
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