Prudential Financial has named Jacques Chappuis as president and CEO of PGIM, its $1.4tn global investment management business.
Chappuis will take on the role from May 1 next year. He joins the firm from Morgan Stanley, where he was most recently co-head of Morgan Stanley Investment Management. He was also previously head of investment solutions at Carlyle.
Current PGIM president and CEO David Hunt will retire from the roles, but will stay on as chairman of PGIM until July 31, 2025.
Prudential Financial’s head of international businesses and global investment management, Andrew Sullivan, said, “Under David’s leadership, PGIM has grown to become one of the premier global asset managers in the world, well known for its public and private markets investment expertise, with assets under management growing to $1.4tn from $619bn since David joined the firm in 2011,” said Sullivan.
“David has overseen PGIM’s impressive expansion in the UK, Europe and Japan, as well as the integration of new capabilities such as private equity secondaries and the expansion of expertise in existing asset classes, including private credit.”
He added, “Jacques is well known for his deep commitment to clients, his leadership in acquisitions, and breadth of expertise across public and private market solutions. We know that he is the right person to lead PGIM’s next chapter of growth.
“Over the last decade, PGIM has meaningfully expanded its third-party asset management business. Jacques’ expertise will allow us to identify opportunities to accelerate our continued growth through new markets, innovative products, and comprehensive solutions across a wide range of asset classes.”
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