Alfred Lerman, FSA, CFA, MAAA, is Chief Investment Officer for PGIM Portfolio Advisory, which leverages PGIM’s public and private markets expertise to develop and implement sophisticated asset-liability management and asset allocation strategies for insurance clients and other institutional investors.
Before assuming his current role, Mr. Lerman was Chief Portfolio Strategist for the U.S. Businesses of Prudential Financial Inc. (PFI), responsible for asset and liability management, including strategic asset allocation and large-scale portfolio initiatives across Individual Annuities, Retirement, Individual Life and Group Insurance, and was a member of the Financial Risk Committees for each of the U.S. Businesses.
When he first joined PFI in 2008, Mr. Lerman established and led the chief investment office’s Investment Analytics team, responsible for quantitative modeling and asset optimization in support of portfolio management activities. Later, as Managing Director and Head of the Portfolio Strategy Group, he implemented cross-portfolio investment initiatives for PFI's general account, monitored risk exposures, established investment benchmarks, developed attribution frameworks and supported market assumption research. In 2019, Mr. Lerman became Chief Investment Officer for PFI's Individual Life and Annuity businesses and was responsible for asset-liability management, portfolio construction and tactical and strategic asset allocation.
Prior to joining PFI, Mr. Lerman was Senior Vice President in the Pension and Insurance Solutions Group at Lehman Brothers and Executive Director in Global Capital Markets at Morgan Stanley.
Mr. Lerman graduated summa cum laude from Polytechnic University in 1996 with a BS in mathematics and earned his MBA from Columbia Business School. Mr. Lerman is a Fellow of the Society of Actuaries and holds the Chartered Financial Analyst (CFA) designation.