NEWARK-There are changes taking place at the top for Prudential Mortgage Capital Co. President David Twardock plans to end a 15-year tie to the firm when he retires in April. David Durning will be taking his place.

PMCC, which has $72 billion in assets under management and administration, is a business of Prudential Financial Inc. Twardock has been president since 1999, and Durning, who is a 24-year veteran of the company, is currently senior managing director and head of originations.

“A test of any business is its capacity to manage change and maintain its competitive position over time,” said David Hunt, CEO of Prudential Investment Management, in a statement. “Dave Twardock has worked tirelessly to lead the transformation of our mortgage business from a single line business supporting Prudential's general account to a full-service commercial mortgage company offering a range of capital sources,”

He added that Durning “has demonstrated great leadership in a variety of roles, and is uniquely positioned to lead and continue to grow the mortgage business, particularly as the business expands internationally.”

In addition to his role at Prudential Mortgage Capital Company, Durning is a member of the Prudential Investment Management Investment Committee and serves on the executive board of the National Multifamily Housing Council. He is a former vice chair of the Fannie Mae DUS Advisory Council and is a member of the Urban Land Institute, and the Association for Investment Management and Research.