Prudential Financial has announced that Jacques Chappuis, former co-head of Morgan Stanley Investment Management, will be taking over as chief executive officer of PGIM on 1 May 2025.
Chappuis (main picture) will be replacing current CEO David Hunt, who is retiring after 13 years at the helm where he saw assets under management double from $619bn to $1.4trn.
Chappuis will report to Andrew Sullivan, head of international businesses and global investment management at Prudential Financial.
Sullivan said: “Jacques is well known for his deep commitment to clients, his leadership in acquisitions, and breadth of expertise across public and private market solutions”.
He added: “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.”
The appointment comes as the asset management industry continues to consolidate and seek growth in areas such as alternatives and private assets.
Chappuis said: “PGIM’s expertise and capabilities across public and private markets reinforce its commitment to meeting clients’ differentiated long-term investment needs, and I look forward to building upon the firm’s successes.”
Prior to working at Morgan Stanley, Chappuis held senior roles at Carlyle and Citigroup.
