Morgan Stanley co-head Jacques Chappuis has been appointed the new president and chief executive officer of PGIM, replacing David Hunt when he leaves the firm in July.
Hunt, who has headed up the asset management business since 2011, will stay on for a transitory period of two months before Chappuis officially takes the helm in 1st May 2025.
Chappuis moves over from Morgan Stanley Investment Management, where he has been in various leadership roles since 2006.
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He was most recently the firm’s co-head, which involved him playing a crucial role in the acquisition and integration of investment manager Eaton Vance in a $7bn deal.
Andrew Sullivan, head of international businesses and global investment management at PGIM, said Chappuis’ “leadership in acquisitions” was one of the main appeals for appointing him.
He noted that this experience would be beneficial to “lead PGIM’s next chapter of growth”.
Sullivan added: “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 PFI.”
