PGIM Fixed Income announces senior appointments

Rhea-AI Summary

PGIM Fixed Income, part of Prudential Financial (NYSE: PRU), announced senior leadership changes effective January 1, 2022. John Vibert will become president, transitioning from head of Securitized Products. Craig Dewling and Gregory Peters will assume co-CIO roles, taking over from Michael Lillard. The appointments underscore PGIM's growth in assets, having increased threefold over the past decade, and aim to enhance its investment performance and service. PGIM Fixed Income manages $954 billion in assets as of June 30, 2021.

Positive

• Leadership changes to strengthen succession planning.
• John Vibert's new role as president is aimed at enhancing strategic direction.
• Threefold growth in assets over the last decade indicates strong performance.

Negative

• None.

NEWARK, N.J.--(BUSINESS WIRE)-- PGIM Fixed Income, part of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), is making the following senior appointments effective Jan. 1, 2022:

John Vibert, Managing Director, PGIM Fixed Income (Photo: Business Wire)

John Vibert, managing director, will move to the newly created role of president. Vibert joined PGIM Fixed Income in 2014 as the head of Securitized Products and serves in that role currently. Prior to joining PGIM Fixed Income, Vibert was a lead portfolio manager for BlackRock’s mortgage credit portfolios and the lead trader for its non-agency Residential Mortgage-Backed Securities (RMBS) trading team. He also held senior investment positions at Credit Suisse and Morgan Stanley.

Craig Dewling and Gregory Peters, both managing directors, will become co-chief investment officers. Dewling and Peters will take over CIO duties from Michael Lillard, head of PGIM Fixed Income and CIO. Dewling joined the firm in 1987 and currently serves as the deputy chief investment officer. Peters joined the firm in 2014 and currently serves as the head of Multi-Sector and Strategy and as a senior portfolio manager for the firm’s multi-sector strategies. Prior to joining PGIM Fixed Income, Peters was the chief global cross asset strategist at Morgan Stanley, responsible for the firm’s macro research and asset allocation strategy. Additionally, he was Morgan Stanley’s global director of Fixed Income and Economic Research.

Vibert, Dewling and Peters will report to Lillard who will remain the head of PGIM Fixed Income.

Lillard commented, “I am excited to announce these senior appointments as part of our continuing efforts to broaden the leadership structure of the firm and strengthen our long-term succession plan. Given our more than threefold growth in assets over the last ten years, I believe naming a president and splitting the CIO roles positions us well to continue providing the investment performance and service that our clients know and expect. As head of Securitized Products, John is a proven and natural leader, driving both strong investment results and a positive team culture. In his role as president, John will work closely with me on the strategic direction and overall management of the firm, including oversight of our global Operations, Technology, and Business Management functions. John will also continue to oversee our global collateralized loan obligation business.”

Lillard continued, “Having served as the CIO of PGIM Fixed Income since 2008, I believe it is the right time to have Craig and Greg take over these responsibilities. As deputy CIO, Craig has overseen many of the day-to-day investment functions for the last two years. His deep experience with multi-sector and liquidity portfolios, as well as the management of insurance assets, has been a key driver of our success. Craig has spent his entire career at the firm, and I am confident that he brings an important element of continuity between the historical foundations of our success and our aspirations for the future. Greg’s extensive multi-sector portfolio management and global macro investment strategy experience has been instrumental in broadening our overall investment strategy. I believe Craig and Greg’s complementary skill sets will enable us to strengthen our investment process and allow us to further develop our investment professionals for many years to come.”

Upon Vibert assuming the role of president, he will relinquish the role of head of Securitized Products. Gabriel Rivera and Edwin Wilches will become co-heads of Securitized Products reporting to Peters. Gary Horbacz will become head of Securitized Products Research, reporting to Rivera and Wilches.

Upon Dewling and Peters becoming co-CIOs, the deputy CIO role will be eliminated as those duties will be incorporated into the CIO function. In addition to his CIO duties, Peters will remain a senior portfolio manager on the multi-sector team.

As always, PGIM Fixed Income remains focused on providing clients with outstanding investment performance and service.

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $954 billion in assets under management as of June 30, 2021, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong and Singapore. For more information, visit pgimfixedincome.com.

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with $1.5 trillion in assets under management as of June 30, 2021. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

^* Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on June 1, 2020. This ranking represents global assets under management by PFI as of March 31, 2020.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005422/en/

MEDIA CONTACT

Lizzie Lowe

+1 973 802 8786

lizzie.lowe@pgim.com

Source: PGIM Fixed Income

FAQ

What leadership changes did Prudential Financial (NYSE: PRU) announce in January 2022?

Prudential Financial's PGIM Fixed Income announced John Vibert as president, and Craig Dewling and Gregory Peters as co-CIOs.

What is PGIM Fixed Income's asset management value as of June 30, 2021?

PGIM Fixed Income manages $954 billion in assets as of June 30, 2021.

Who will take over as co-CIOs at PGIM Fixed Income?

Craig Dewling and Gregory Peters will become co-CIOs at PGIM Fixed Income.

What significant growth has PGIM Fixed Income experienced recently?

PGIM Fixed Income has seen a threefold increase in assets over the last decade.