PGIM, the global asset management arm of Prudential Financial, has appointed Jacques Chappuis as its new president and chief executive.
Chappius will join the US$1.4 trillion business in May 2025 and joins from Morgan Stanley where he worked as co-head of Morgan Stanley Investment Management, including overseeing the firm’s acquisition of investment management firm Eaton Vance.
He also worked as the global head of distribution, co-head of solutions and multistrategy for seven years. Prior to joining Morgan Stanley, he was the head of investment solutions at The Carlyle Group.
He will report to Andrew Sullivan, head of international business and global investment management for Prudential Financial.
He replaces David Hunt who steps down after 13 years and will stay on as chairman until 31 July 2025 in order to facilitate a smooth transition.
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 US$1.4 trillion from US$619 billion since David joined the firm in 2011.
“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.”
The firm said Chappuis’ appointment will mark PGIM’s next chapter of growth as it moves into new markets and asset classes.
“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,” Sullivan said.
“I’m proud to become PGIM’s next president and CEO, leading an incredible team through its next chapter of growth. PGIM’s expertise and capabilities across public and private markets reinforce its commitment to meeting clients’ differentiated long-term investment needs, and I look forward to building upon the firm’s successes.”
Earlier this year, Global X ETFs Australia appointed Alex Zaika from GAM as its new chief executive to replace Evan Metcalf, while Perpetual appointed Bernard Reilly from superannuation fund, Australia Retirement Trust, to replace Rob Adams.
