Matthew Petre has been named head of business development, a newly created role, at Prosperity Asset Management.
Petre will be “responsible for deepening and expanding PAM’s relationships with existing and prospective clients as well as helping to develop insurance solutions that align with clients’ objectives,” said an Oct. 16 news release.
Petre formerly served as managing director-insurance relationship manager at Invesco. Invesco declined to comment about a replacement.
PAM is an insurance-focused asset manager specializing in private and public credit opportunities and origination platforms.
As of Sept. 30, PAM managed approximately $23 billion in assets.
