Prudential Announces Head of Global Investment Strategy

Rhea-AI Summary

Prudential Financial (NYSE: PRU) announced Andrew Yorks as the new head of Global Investment Strategy, effective July 15. Yorks will develop investment plans, asset-liability management strategies, and assess new investment opportunities for Prudential's general account. He will also monitor portfolio risks and act as the key liaison with PGIM asset management units. Yorks is currently the chief investment officer at Resolution Life U.S., previously holding senior roles at Lincoln Financial Group, BlackRock, and Alliance Capital.

Positive

• Andrew Yorks brings significant experience from his role as CIO at Resolution Life U.S.
• Yorks oversaw $18 billion in investment strategies at Lincoln Financial Group.
• Yorks’ history of leadership at major firms like BlackRock and Alliance Capital enhances his credibility.

Negative

• Potential disruption during transition as Yorks assumes his new role.
• Uncertainty about Yorks' effectiveness in aligning with Prudential's existing strategies and goals.

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) announced today that Andrew Yorks will join the company as head of Global Investment Strategy, effective July 15. Yorks will report to Tim Schmidt, senior vice president and chief investment officer.

Andrew Yorks, Head of Global Investment Strategy, Prudential (Photo: Business Wire)

Yorks will be responsible for developing investment plans and ALM strategies for Prudential’s general account. He will also have responsibility for identifying and assessing new investment opportunities and monitoring overall portfolio risks, and will serve as the key liaison with PGIM asset management units and corporate functions.

Currently, Yorks is chief investment officer at Resolution Life U.S. where he is responsible for the overall management of the company’s investment portfolio and for setting the overall strategic direction of the company, including growth through mergers and acquisitions. Additionally, he plays an important role in developing Resolution Life Group’s investment strategy and process.

Prior to Resolution Life U.S., Yorks was senior vice president, head of alternatives and private debt strategies at Lincoln Financial Group, where he oversaw $18 billion of private equity, hedge fund, and private debt strategies across 20 manager relationships for Lincoln’s general account. He has also held leadership positions at several asset managers including BlackRock and Alliance Capital.

ABOUT PRUDENTIAL
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of March 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years. For more information, please visit news.prudential.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513074391/en/

MEDIA

YeaJin Kim

yeajin.kim@prudential.com

Source: Prudential Financial, Inc.

FAQ

When will Andrew Yorks join Prudential as head of Global Investment Strategy?

Andrew Yorks will join Prudential as head of Global Investment Strategy on July 15.

What are Andrew Yorks' responsibilities at Prudential?

Andrew Yorks will develop investment plans, asset-liability management strategies, identify new investment opportunities, monitor portfolio risks, and liaison with PGIM asset management units.

What was Andrew Yorks' previous position before joining Prudential?

Andrew Yorks was the chief investment officer at Resolution Life U.S. before joining Prudential.

How much investment did Andrew Yorks oversee at Lincoln Financial Group?

Andrew Yorks oversaw $18 billion in private equity, hedge fund, and private debt strategies at Lincoln Financial Group.