Quantitative Management Associates recruited one executive and promoted another to co-lead its global equity division, confirmed spokeswoman Judith Flynn.
George N. Patterson and Peter Xu were named co-heads of QMA's global equity platform. The positions are new.
Messrs. Patterson and Xu will both oversee QMA's newly unified global equity platform, which consolidates the firm's U.S. value, U.S. core and non-U.S. core investment strategies into one division. They will report to Roy Henriksson, chief investment officer.
Mr. Patterson was managing director, corporate strategy at Axioma, while Mr. Xu was and will remain head of U.S. core strategies at QMA. Axioma spokeswoman Courtney Chennells declined to comment on whether Mr. Patterson had been replaced.
QMA, the quantitative investment and asset allocation business of PGIM, managed $130 billion in assets as of June 30.