David Hunt has been tapped to become Prudential Investment Management’s new chief executive officer.
Prudential Investment Management, a business of Prudential Financial, Inc. (NYSE: PRU), Newark, N.J., had more than $583 billion in assets under management as of June 30, 2011, and ranks among the world’s largest asset managers.
Hunt joins Prudential from McKinsey & Company, New York, where he was a senior partner and co-leader of its North American Asset Management practice.
Hunt will oversee all of the asset management businesses that comprise Prudential Investment Management, including its public fixed income, real estate, public equity, private fixed income, mutual fund and wealth management businesses.
Prudential says his appointment will become effective Nov. 9.
Hunt assumes the new role from Prudential U.S. Businesses Chief Operating Officer Charles Lowrey, who was promoted in February 2011 to lead the U.S. businesses and has continued to oversee Prudential Investment Management in the interim.