Srinivas Reddy has been promoted to the role of head of full service investments at Prudential Retirement, a unit of Prudential Financial Inc., said Monique Reuben, a Prudential spokeswoman.
It is a new position. “Mr. Reddy will be responsible for all aspects of the investment and retirement income businesses within Prudential Retirement, which consists of $170 billion in assets under administration and relationships with more than 60 affiliate and third-party asset managers,” according to a Prudential news release issued Monday.
Mr. Reddy will report to Jamie Kalamarides, head of institutional investment solutions for Prudential Retirement.
“This is a new role,” Ms. Reuben wrote in an e-mail. “Existing teams (within Prudential Retirement) will come together under one leader to create a singular perspective for investments.”
Mr. Reddy's responsibilities include “selecting and managing both the affiliated and external asset management partners that we work with to design our full suite of offerings,” Ms. Reuben wrote.
Mr. Reddy joined Prudential Retirement in 2010. He was head of institutional income and capital markets for Prudential Retirement. Mr. Reddy “will maintain most of his previous responsibilities,” Ms. Reuben said.