PGIM Fixed Income announces senior appointmentsPGIMFixedIncomeannouncesseniorappointments

Lillard commented, “I am excited to announce these senior appointments as part of our continuing efforts to broaden the leadership structure of the firm and strengthen our long-term succession plan. Given our more than threefold growth in assets over the last ten years, I believe naming a president and splitting the CIO roles positions us well to continue providing the investment performance and service that our clients know and expect. As head of Securitized Products, John is a proven and natural leader, driving both strong investment results and a positive team culture. In his role as president, John will work closely with me on the strategic direction and overall management of the firm, including oversight of our global Operations, Technology, and Business Management functions. John will also continue to oversee our global collateralized loan obligation business.”

Lillard continued, “Having served as the CIO of PGIM Fixed Income since 2008, I believe it is the right time to have Craig and Greg take over these responsibilities. As deputy CIO, Craig has overseen many of the day-to-day investment functions for the last two years. His deep experience with multi-sector and liquidity portfolios, as well as the management of insurance assets, has been a key driver of our success. Craig has spent his entire career at the firm, and I am confident that he brings an important element of continuity between the historical foundations of our success and our aspirations for the future. Greg’s extensive multi-sector portfolio management and global macro investment strategy experience has been instrumental in broadening our overall investment strategy. I believe Craig and Greg’s complementary skill sets will enable us to strengthen our investment process and allow us to further develop our investment professionals for many years to come.”

Upon Vibert assuming the role of president, he will relinquish the role of head of Securitized Products. Gabriel Rivera and Edwin Wilches will become co-heads of Securitized Products reporting to Peters. Gary Horbacz will become head of Securitized Products Research, reporting to Rivera and Wilches.

Upon Dewling and Peters becoming co-CIOs, the deputy CIO role will be eliminated as those duties will be incorporated into the CIO function. In addition to his CIO duties, Peters will remain a senior portfolio manager on the multi-sector team.

As always, PGIM Fixed Income remains focused on providing clients with outstanding investment performance and service.

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $954 billion in assets under management as of June 30, 2021, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong and Singapore. For more information, visit pgimfixedincome.com.

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with $1.5 trillion in assets under management as of June 30, 2021. With offices in 16 countries, 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 public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

^* Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on June 1, 2020. This ranking represents global assets under management by PFI as of March 31, 2020.