Money Management

PGIM adds institutional relationship group managing director

Howard Nowell was named managing director in PGIM's institutional relationship group in London, a spokesman said.

The position is new. Mr. Nowell focuses on expanding strategic relationships with institutional clients, in particular chief investment officers, and provides insight on asset allocation and risk management. He reports to Michael Samaha, managing director of PGIM's institutional relationship group for Europe and the Middle East.

Mr. Nowell was most recently managing director at BlackRock (BLK)'s institutional client business in the U.K. A spokeswoman said Mr. Nowell will not be replaced in that role.

PGIM has $1 trillion in assets under management.