Prudential Financial named Jacques Chappuis as the next president and CEO of PGIM, its $1.4 trillion global asset management business.
Chappuis will step into the role on May 1, 2025. David Hunt, current president and CEO of PGIM, will retire and stay on as chairman until July 31, 2025, to ensure a “smooth transition,” according to a news release.
During Hunt’s 13-year tenure, PGIM saw significant growth — from assets under management of $619 billion in 2011 when Hunt joined to $1.4 trillion as of Sept. 30 — as well as international expansion.
Hunt told Pensions & Investments earlier this year that further growth was ahead in alternatives as well as in the Middle East region.
Chappuis was formerly co-head of Morgan Stanley Investment Management. Ben Huneke currently serves as sole head of MSIM.
Chappuis will report Andrew Sullivan, head of international businesses and global investment management for PFI.
“Over the last decade, PGIM has meaningfully expanded its third-party asset management business,” Sullivan said in the news release. “Jacques’ expertise will allow us to identify opportunities to accelerate our continued growth through new markets, innovative products and comprehensive solutions across a wide range of asset classes.”
Earlier in his career, Chappuis held roles at Citigroup and The Carlyle Group.
PGIM manages assets across both public and private markets.
