PGIM, the asset management business of Prudential Financial, has hired former Blackstone executive Brian Towers as part of the firm’s efforts to grow its insurance business.

Towers, in the new role as head of insurance and strategic partnerships, will be tasked with delivering integrated investment solutions and building long-term strategic partnerships with insurers, PGIM said.

Reporting to Keshav Rajagopalan, head of strategic capital group at PGIM, Towers will be build a dedicated team to develop solutions for insurer needs, spanning transaction engineering, structuring, and client service.

Rajagopalan said: “PGIM has supported insurers around the world for decades, and we continue to see opportunity to serve them even more effectively with an integrated, specialist approach.”

“Insurers’ needs span a continuum from strategic partnerships to tailored portfolio solutions, and this appointment strengthens our ability to deliver a consistent, high-quality experience across that full spectrum, globally.”

Towers was previously a managing director at Blackstone, responsible for the buildout and scaling of its multi-asset credit platform, spanning commercial strategy, fundraising, and partnerships, PGIM said.  

He previously held senior roles at AIG, BlackRock, and Invesco, with nearly 20 years of experience in the industry.