- Jacques Chappuis, formerly co-head of Morgan Stanley Investment
Management, will lead PGIM, Prudential Financial, Inc.’s global
asset management business, effective May 1, 2025
- Chappuis will lead PGIM’s next chapter of growth across public
and private markets capabilities
- David Hunt will retire as president and CEO of PGIM and stay on
as chairman until July 31, 2025 to ensure a smooth transition
- Over his successful 13-year tenure, Hunt led PGIM’s significant
growth and international expansion
Prudential Financial, Inc. (NYSE: PRU) announced the appointment
of Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion
global investment management business, effective May 1, 2025.
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Jacques Chappuis has been appointed
president and CEO of PGIM, the $1.4 trillion global investment
management business of Prudential Financial, Inc., effective May 1,
2025. (Photo: Business Wire)
Chappuis will report to Andrew Sullivan, head of International
Businesses and Global Investment Management for Prudential
Financial, Inc. Chappuis succeeds David Hunt, who will retire as
president and CEO and stay on as chairman of PGIM until July 31,
2025, remaining actively involved throughout the transition
period.
“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 $1.4 trillion from $619 billion since David
joined the firm in 2011,” said Sullivan.
“David has overseen PGIM’s impressive expansion in the U.K.,
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. His
contributions and commitment to culture have also led to PGIM being
recognized as a Best Place to Work in Money Management by
Pensions & Investments for several years. We are grateful to
David for his 13 years of service to PGIM. He leaves an indelible
impression on PGIM’s legacy.”
LEADING PGIM’S NEXT CHAPTER OF GROWTH
With nearly 30 years of investment management experience,
Chappuis joins PGIM from Morgan Stanley, where he was most recently
co-head of Morgan Stanley Investment Management (MSIM). At MSIM, he
played a key role in the transformative and successful integration
of Eaton Vance.
“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,” said Sullivan. “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. I look forward to working with Jacques
to lead one of the key growth engines of Prudential.”
“I’m proud to become PGIM’s next president and CEO, leading an
incredible team through its next chapter of growth,” said Chappuis.
“PGIM’s expertise and capabilities across public and private
markets reinforces its commitment to meeting clients’
differentiated long-term investment needs, and I look forward to
building upon the firm’s successes.”
ABOUT JACQUES CHAPPUIS
Jacques Chappuis was most recently the co-head of MSIM and a
member of the Morgan Stanley Management Committee. From 2006 to
2013, he held senior leadership roles in Morgan Stanley’s
Investment Management and Wealth Management businesses, including
head of Morgan Stanley Alternative Investment Partners, before
joining The Carlyle Group as head of Investment Solutions. Chappuis
returned to Morgan Stanley in 2016, where he served as global head
of Distribution and co-head of the Solutions and Multi-Asset Group
for MSIM before his latest role.
Prior to his experience at Morgan Stanley, Chappuis was head of
Alternative Investments for Citigroup’s Global Wealth Management
Group. In earlier roles, he was a managing director at Citigroup
Alternative Investments, the firm’s proprietary alternative
investment unit; a consultant at the Boston Consulting Group; and
an investment banker at Bankers Trust Company.
He received his B.A. in finance from Tulane University and an
MBA from Columbia Business School. He is a member of the New York
Board of Advisors of Teach For America and a board member of Centro
para la Nueva Economia, a Puerto Rico-based think tank focused on
policy matters related to the island’s economy.
ABOUT PGIM
PGIM is the global asset management business of Prudential
Financial, Inc. (NYSE: PRU). In 42 offices across 19 countries and
jurisdictions, our more than 1,400 investment professionals serve
both retail and institutional clients around the world.
As a leading global asset manager with $1.4 trillion in assets
under management,* PGIM is built on a foundation of strength,
stability, and disciplined risk management. Our multi-affiliate
model allows us to deliver specialized expertise across key asset
classes with a focused investment approach. This gives our clients
a diversified suite of investment strategies and solutions with
global depth and scale across public and private asset classes,
including fixed income, equities, real estate, private credit, and
other alternatives. For more information visit pgim.com.
ABOUT PRUDENTIAL
Prudential Financial, Inc. (NYSE: PRU) (PFI), a global financial
services leader and premier active global investment manager with
approximately $1.6 trillion in assets under management as of Sept.
30, 2024, has operations in the United States, Asia, Europe, and
Latin America. PFI’s diverse and talented employees help make lives
better and create financial opportunity for more people by
expanding access to investing, insurance, and retirement security.
PFI’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for nearly 150 years. For more information
please visit news.prudential.com.
*As of Sept. 30, 2024.
FORWARD-LOOKING STATEMENTS
Certain of the statements included in this release, including
those regarding PGIM’s potential growth, constitute forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are made
based on management’s current expectations and beliefs concerning
future developments and their potential effects upon Prudential
Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s
actual results may differ, possibly materially, from expectations
or estimates reflected in such forward-looking statements. Certain
important factors that could cause actual results to differ,
possibly materially, from expectations or estimates reflected in
such forward-looking statements can be found in the “Risk Factors”
and “Forward-Looking Statements” sections included in Prudential
Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports
on Form 10-Q. The forward-looking statements herein are subject to
the risk, among others, that we will be unable to execute our
strategy because of market or competitive conditions or other
factors. Prudential Financial, Inc. does not undertake to update
any particular forward-looking statement included in this
document.
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version on businesswire.com: https://www.businesswire.com/news/home/20241108248205/en/
MEDIA CONTACT: Alyssa McMahon, +1 973-204-5808,
alyssa.mcmahon@pgim.com
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