PGIM appointed Morgan Stanley (NYSE: MS)’s Jacques Chappuis as chief executive officer to succeed David Hunt, who’s leaving after 13 years in the job.
Chappuis will take the helm of the Prudential Financial Inc. (NYSE: PRU) asset management unit as of May 1, 2025, Bloomberg News reported. He’ll report to Andrew Sullivan, executive vice president and head of Prudential’s international businesses and global investment management. Chappuis will take over the business, which manages $1.4 trillion across public and private markets, at a time when asset management has become a key differentiator for U.S. life insurers. Chappuis spent the past eight years at Morgan Stanley, where he was most recently co-head of the investment management business. He has also worked for Carlyle (Nasdaq: CG) and Citigroup (NYSE: C).