MIB: Biggest Asset Manager You Never Heard Of

When David Hunt, became president and chief executive officer of Prudential Financial Inc.’s global investment management business 7 years ago, he faced a bit a quandry. The global firm’s background dated back more than 100-years to the early days of Prudential Insurance. But they had no rights to the name “Prudential” outside of the United States or Japan. An even older and unrelated multinational life insurance and financial services named Prudential PLC. owned the name in the UK and Europe since 1848.

Hence, the global investment management business became PGIM – the world’s 10th largest money manager, with over $1.2 trillion dollars in assets.

PGIM manages several large and distinct classes of assets. They manage over $700 billion in fixed income – their largest pool of capital. But they were a pioneer in quantitative investing — running $127 billion in one of the oldest quant funds, which launched in 1975. They are also the 3rd largest manager of commercial real estate in the world, and have financed more than $61 billion dollars real estate. They have a substantial line in private debt business as well.

His favorite books are here, and read the conversation transcript here.

Hunt spent 22 years at McKinsey, where he worked with financial services companies.

You can stream/download the full conversation, including the podcast extras on iTunesBloombergOvercast, and Stitcher. Our earlier podcasts can all be found at iTunesStitcherOvercast, and Bloomberg.

Next week, we speak with Wharton professor and Federal Reserve expert Peter Conti-Brown.

 

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