Prudential names former Morgan Stanley exec as PGIM CEO

Prudential Financial (PFG) named Jacques Chappuis, formerly co-head of Morgan Stanley Investment Management, to lead its global asset management business as president and CEO of PGIM, starting on May 1, 2025, the company said on Friday.

Chappuis has almost 30 years of investment management experience. At MSIM, he played a key role in integrating Eaton Vance after Morgan Stanley (MS) acquired the firm in 2021.

David Hunt will retire as president and CEO and stay on as PGIM’s chairman until July 31, 2025. PGIM’s assets under management climbed to $1.4T from $619M since he joined the firm in 2011. “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,” said Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial (PFG).

Prudential (PFG) stock slipped 1.2% in Friday midday trading.