The latest M&A deals in wealth management.

KB Financial Group has agreed to buy all of Prudential Financial’s South Korean unit for $1.89 billion, which means that Prudential is leaving the Asian country’s business after three decades. 

The US life insurer had employed Goldman Sachs to review a possible sale of the business, a report in Reuters on 10 April said.

KB, which is based in Seoul, wanted to buy the Prudential Financial business to make its own life insurance business more competitive.

The life insurance sector is a conduit for wealth-related products and services in Asia, among other business lines.