Prudential appoints Jacques Chappuis as President and CEO of PGIM

• Jacques Chappuis, formerly co-head of Morgan Stanley Investment Management, will lead PGIM, Prudential Financial, Inc.’s global asset management business, effective May 1, 2025
• Chappuis will lead PGIM’s next chapter of growth across public and private markets capabilities
• David Hunt will retire as president and CEO of PGIM and stay on as chairman until July 31, 2025 to ensure a smooth transition
• Over his successful 13-year tenure, Hunt led PGIM’s significant growth and international expansion

Prudential Financial, Inc. (NYSE: PRU) announced the appointment of Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025.

Chappuis will report to Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial, Inc. Chappuis succeeds David Hunt, who will retire as president and CEO and stay on as chairman of PGIM until July 31, 2025, remaining actively involved throughout the transition period.

“Under David’s leadership, PGIM has grown to become one of the premier global asset managers in the world, well known for its public and private markets investment expertise, with assets under management growing to $1.4 trillion from $619 billion since David joined the firm in 2011,” said Sullivan.

“David has overseen PGIM’s impressive expansion in the U.K., Europe and Japan, as well as the integration of new capabilities such as private equity secondaries and the expansion of expertise in existing asset classes, including private credit. His contributions and commitment to culture have also led to PGIM being recognized as a Best Place to Work in Money Management by Pensions & Investments for several years. We are grateful to David for his 13 years of service to PGIM. He leaves an indelible impression on PGIM’s legacy.”

LEADING PGIM’S NEXT CHAPTER OF GROWTH

With nearly 30 years of investment management experience, Chappuis joins PGIM from Morgan Stanley, where he was most recently co-head of Morgan Stanley Investment Management (MSIM). At MSIM, he played a key role in the transformative and successful integration of Eaton Vance.

“Jacques is well known for his deep commitment to clients, his leadership in acquisitions, and breadth of expertise across public and private market solutions. We know that he is the right person to lead PGIM’s next chapter of growth,” said Sullivan. “Over the last decade, PGIM has meaningfully expanded its third-party asset management business. 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. I look forward to working with Jacques to lead one of the key growth engines of Prudential.”

“I’m proud to become PGIM’s next president and CEO, leading an incredible team through its next chapter of growth,” said Chappuis. “PGIM’s expertise and capabilities across public and private markets reinforces its commitment to meeting clients’ differentiated long-term investment needs, and I look forward to building upon the firm’s successes.”

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