PGIM Investments invests in senior talent as part of global expansion

Date : 10/29/2019 @ 11:00AM
Source : Business Wire
Stock : Prudential Financial Inc (PRU)
Quote : 94.14  -0.41 (-0.43%) @ 12:59AM
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PGIM Investments invests in senior talent as part of global expansion

Prudential Financial (NYSE:PRU)
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PGIM Investments has made senior-level hires across its marketing and technology functions, as well as expanded roles of two senior executives. The investment in top talent comes on the heels of 10 consecutive years of positive net flows for the retail fund shop, underscoring the firm’s ongoing commitment to serving its growing client base both in the U.S. and internationally.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191029005324/en/

Ray Ahn, global chief marketing officer, PGIM Investments (Photo: Business Wire)

PGIM Investments is the global manufacturer and fund distributor of PGIM Inc., the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU) – a top-10 investment manager globally.

Coupled with attractive investment results, PGIM Investments has grown its mutual fund assets under management from $28 billion to $115 billion over the past 10 years.* To continue building its global capabilities, PGIM Investments has added experienced leadership in its marketing and technology functions.

Global Chief Marketing Officer

With more than 25 years of investment management marketing experience, Ray Ahn joins PGIM Investments as global chief marketing officer. Most recently with Capital Group/American Funds, Ahn will lead the marketing strategy and marketing team expansion for the retail intermediary channels in both the U.S. and internationally. At Capital Group/American Funds, Ahn led the firm’s build-out of its international marketing function, as well as led product marketing teams in the U.S. He previously held marketing roles at ProShares, T. Rowe Price and BlackRock.

Global Chief Technology and Operations Officer

With more than 30 years of financial services industry experience, Indy Reddy joined PGIM Investments as global chief technology and operations officer. Reddy previously served as global head of technology and operations for Citi Private Bank & Personal Wealth Management. He will lead the build-out of the technology platform to support the firm’s global expansion plans, overseeing teams spanning fund administration, transfer agency and client service. He previously held senior technology roles with Credit Suisse and Deutsche Bank.

Expansion of Senior Leadership Roles

In addition to augmented leadership in marketing and technology, PGIM Investments has expanded the role of two senior executives.

Jim Devaney has assumed the role of U.S. head of distribution, expanding his responsibilities to include both U.S. intermediary sales and U.S. national accounts. U.S. distribution has been a key contributor to PGIM Investments’ growth by helping to drive 10 consecutive years of positive net flows totaling nearly $50 billion over that time. The U.S. national accounts team was previously led by Kimberly LaPointe.

Kimberly LaPointe has assumed a newly created role as head of PGIM Investments International. LaPointe has relocated to London and is focused on accelerating PGIM Investments’ growth plans outside of the U.S. Launched in 2013, PGIM Investments’ UCITS offering spans 29 funds registered in 17 countries across Europe, Latin America and Asia. The firm’s UCITS range has grown from $1 billion to $4.5 billion over the past three years and established local distribution teams across the U.K., Germany and Switzerland.

Stuart Parker, president and CEO of PGIM Investments, noted, “PGIM Investments is committed to bringing the best to our clients. We’re continuing to invest in talent to serve our clients around the world.”

About PGIM Investments and PGIM Funds

PGIM Investments LLC offers more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities and real estate.

PGIM Funds plc is an Ireland-domiciled UCITS umbrella fund serving institutional and wholesale investors across the globe. For a full list of funds available in your region, visit pgimfunds.com.

About PGIM

With 16 consecutive years of positive third-party institutional net flows, PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world** with more than $1 trillion in assets under management as of Sept. 30, 2019. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 15 countries across four continents. For more information, please visit pgim.com.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, which is headquartered in the United Kingdom. For more information please visit news.prudential.com.

*Source: Strategic Insights/SIMFUND for the 10-year period ended Sept. 30, 2019, including Long-Term mutual funds only; excludes Money Market funds, Closed-End Funds and ETFs.

** Pensions & Investments’ Top Money Managers list, May 27, 2019; based on Prudential Financial total worldwide institutional assets under management as of Dec. 31, 2018. Assets under management (AUM) are based on company estimates and are subject to change.

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MEDIA: Sheila Kulik 203-745-2523 skulik@prosek.com

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