Mao Dong was named as co-head of portfolio management at PGIM Multi-Asset Solutions, a spokesperson confirmed.
The role is new, expanding the existing head of portfolio management role held by Jonathan Holt, who also becomes co-head.
Dong will be responsible for designing and managing multiasset portfolios for institutional clients. He will report to Alfred Lerman, CIO of the PMA business.
PMA — which launched as a PGIM business in 2022 — has $17 billion in assets under management.
“Our insurance, reinsurance and pension fund clients increasingly require complex, multiasset class portfolio construction and management,” said Phil Waldeck, CEO of PMA, in a news release. “Mao’s appointment is another important milestone in building PGIM’s multiasset solutions business to meet the needs of those clients.”
Parent company PGIM has a total $1.33 trillion in AUM.
Dong was co-head of OCIO portfolio management and head of portfolio construction and manager research at Goldman Sachs Asset Management. A spokesperson said his responsibilities were absorbed into the team.