Prudential Fixed Income Management, an asset management business of Prudential Financial, has appointed Michael Lillard as chief investment officer (CIO), responsible for overseeing all portfolio management and trading across the firm. Additionally, the firm has named Citigroup fixed-income veteran Arvind Rajan its new head of quantitative research and risk management.Most recently, Lillard was senior investment officer for insurance portfolios, liability-driven investment and hedge strategies, and also headed the quantitative research and risk management departments. This involved overseeing fixed-income investments for Prudential's $108 billion general account. His new role as CIO permits him to focus exclusively on portfolio management and alpha generation.
Rajan joins Prudential after serving as co-head of US fixed-income strategy and global head of structured credit research for Citigroup's fixed-income business. Most recently, he founded a unit that traded emerging market and credit instruments.
They will both be based in Newark, New Jersey and report to James Sullivan, head of fixed income at Prudential Fixed Income Management.
Among other appointments at the firm, Peter Cordrey has been named head of alternative products in a new position responsible for the firm's hedge fund platform and collateralised debt obligations. And Miguel Thames has been named head of institutional business, responsible for consultant relations along with sales and client services. He replaces Kevin Myers, who has been named senior managing director of institutional marketing and distribution for Prudential Financial's US businesses.
More on People
Community banking advisory committee names seven new members
Cornerstone builds commodity finance business by hiring Duncan Preston
Job changes in the derivatives, regulation and risk industry throughout Asia
Piterbarg departs, replaced by Marco Naldi; Traiana's Coyne-Solinger saga climaxes; BAML shakes up structured credit team; Tradition hires John Wilson
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.