NEWARK-Prudential Investment Management has named David A. Hunt CEO, effective November 9. He succeeds Charles Lowrey, who was promoted to COO of parent company Prudential’s US businesses in February.
Hunt, formerly a senior partner and co-leader of the North American Asset management of McKinsey & Co., will oversee PIM’s $583.5 billion asset management business, including public fixed income, real estate, public equity, private fixed income, mutual fund and wealth management.
“David’s breadth of institutional and wealth management experience in the US and internationally makes him a perfect fit to lead our asset management businesses,” Lowrey said in a press release. “His keen understanding of retirement trends, product innovation and the future of distribution and advice delivery will strengthen our current client relationships and help us build new ones. Additionally, his commitment to developing high quality talent will further Prudential’s goal of creating an environment where diverse professionals want to build their careers.”
At McKinsey, Hunt’s asset management practice served clients with businesses around the globe, with extensive experience in Japan and throughout Asia, as well as Europe and the Middle East. Hunt advised clients on a range of issues, including strategy, portfolio management, international expansion, product development, distribution, talent development and organization. According to a 2005 World Economic Forum profile, he has conducted studies on the effects of the aging population on customer behavior and trends in retirement planning.
Earlier, he led McKinsey’s North American Commercial and Investment Banking Practice. He spent six years in Europe and while in London was elected to the partnership in 1994.
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