NEWARK, N.J.--(BUSINESS WIRE)--Nov 8, 2024--
Prudential Financial, Inc. (NYSE: PRU) announced the appointment of Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025.
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Chappuis will report to Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial, Inc. (Photo: Business Wire)
David Hunt will retire as president and CEO of PGIM and stay on as chairman through July 2025. (Photo: Business Wire)
Jacques Chappuis has been appointed president and CEO of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc., effective May 1, 2025. (Photo: Business Wire)
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Chappuis will report to Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial, Inc. Chappuis succeeds David Hunt, who will retire as president and CEO and stay on as chairman of PGIM until July 31, 2025, remaining actively involved throughout the transition period.
“Under David’s leadership, PGIM has grown to become one of the premier global asset managers in the world, well known for its public and private markets investment expertise, with assets under management growing to $1.4 trillion from $619 billion since David joined the firm in 2011,” said Sullivan.
“David has overseen PGIM’s impressive expansion in the U.K., Europe and Japan, as well as the integration of new capabilities such as private equity secondaries and the expansion of expertise in existing asset classes, including private credit. His contributions and commitment to culture have also led to PGIM being recognized as a Best Place to Work in Money Management by Pensions & Investments for several years. We are grateful to David for his 13 years of service to PGIM. He leaves an indelible impression on PGIM’s legacy.”
LEADING PGIM’S NEXT CHAPTER OF GROWTH
With nearly 30 years of investment management experience, Chappuis joins PGIM from Morgan Stanley, where he was most recently co-head of Morgan Stanley Investment Management (MSIM). At MSIM, he played a key role in the transformative and successful integration of Eaton Vance.
“Jacques is well known for his deep commitment to clients, his leadership in acquisitions, and breadth of expertise across public and private market solutions. We know that he is the right person to lead PGIM’s next chapter of growth,” said Sullivan. “Over the last decade, PGIM has meaningfully expanded its third-party asset management business. 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 Prudential.”
“I’m proud to become PGIM’s next president and CEO, leading an incredible team through its next chapter of growth,” said Chappuis. “PGIM’s expertise and capabilities across public and private markets reinforces its commitment to meeting clients’ differentiated long-term investment needs, and I look forward to building upon the firm’s successes.”
ABOUT JACQUES CHAPPUIS
Jacques Chappuis was most recently the co-head of MSIM and a member of the Morgan Stanley Management Committee. From 2006 to 2013, he held senior leadership roles in Morgan Stanley’s Investment Management and Wealth Management businesses, including head of Morgan Stanley Alternative Investment Partners, before joining The Carlyle Group as head of Investment Solutions. Chappuis returned to Morgan Stanley in 2016, where he served as global head of Distribution and co-head of the Solutions and Multi-Asset Group for MSIM before his latest role.
Prior to his experience at Morgan Stanley, Chappuis was head of Alternative Investments for Citigroup’s Global Wealth Management Group. In earlier roles, he was a managing director at Citigroup Alternative Investments, the firm’s proprietary alternative investment unit; a consultant at the Boston Consulting Group; and an investment banker at Bankers Trust Company.
He received his B.A. in finance from Tulane University and an MBA from Columbia Business School. He is a member of the New York Board of Advisors of Teach For America and a board member of Centro para la Nueva Economia, a Puerto Rico-based think tank focused on policy matters related to the island’s economy.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. ( NYSE: PRU ). In 42 offices across 19 countries and jurisdictions, our more than 1,400 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager with $1.4 trillion in assets under management,* PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information visit pgim.com.
ABOUT PRUDENTIAL
Prudential Financial, Inc. ( NYSE: PRU ) (PFI), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of Sept. 30, 2024, has operations in the United States, Asia, Europe, and Latin America. PFI’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. PFI’s iconic Rock symbol has stood for strength, stability, expertise and innovation for nearly 150 years. For more information please visit news.prudential.com.
*As of Sept. 30, 2024.
FORWARD-LOOKING STATEMENTS
Certain of the statements included in this release, including those regarding PGIM’s potential growth, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the “Risk Factors” and “Forward-Looking Statements” sections included in Prudential Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements herein are subject to the risk, among others, that we will be unable to execute our strategy because of market or competitive conditions or other factors. Prudential Financial, Inc. does not undertake to update any particular forward-looking statement included in this document.
Chappuis will report to Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial, Inc. (Photo: Business Wire)
David Hunt will retire as president and CEO of PGIM and stay on as chairman through July 2025. (Photo: Business Wire)
Jacques Chappuis has been appointed president and CEO of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc., effective May 1, 2025. (Photo: Business Wire)
MINNEAPOLIS (AP) — Thousands of people marched in Minneapolis Saturday to protest the fatal shooting of a woman by a federal immigration officer there and the shooting of two protesters in Portland, Oregon, as Minnesota leaders urged demonstrators to remain peaceful.
The Minneapolis gathering was one of hundreds of protests planned in towns and cities across the country over the weekend. It came in a city on edge since the killing of Renee Good on Wednesday by an Immigration and Customs Enforcement officer.
“We’re all living in fear right now,” said Meghan Moore, a mother of two from Minneapolis who joined the protest Saturday. “ICE is creating an environment where nobody feels safe and that’s unacceptable.”
On Friday night, a protest outside a Minneapolis hotel that attracted about 1,000 people turned violent as demonstrators threw ice, snow and rocks at officers, Minneapolis Police Chief Brian O’Hara said Saturday. One officer suffered minor injuries after being struck with a piece of ice, O’Hara said. Twenty-nine people were cited and released, he said.
Minneapolis Mayor Jacob Frey stressed that while most protests have been peaceful, those who cause damage to property or put others in danger will be arrested. He faulted “agitators that are trying to rile up large crowds.”
“This is what Donald Trump wants,” Frey said of the president who has demanded massive immigration enforcement efforts in several U.S. cities. “He wants us to take the bait.”
Minnesota Gov. Tim Walz echoed the call for peace.
“Trump sent thousands of armed federal officers into our state, and it took just one day for them to kill someone,” Walz posted on social media. “Now he wants nothing more than to see chaos distract from that horrific action. Don’t give him what he wants.”
The U.S. Department of Homeland Security says its deployment of immigration officers in the Twin Cities is its biggest ever immigration enforcement operation. Trump's administration has said both shootings were acts of self-defense against drivers who “weaponized” their vehicles to attack officers.
Connor Maloney said he was attending the Minneapolis protest to support his community and because he's frustrated with the immigration crackdown.
“Almost daily I see them harassing people,” he said. “It’s just sickening that it’s happening in our community around us.”
Steven Eubanks, 51, said he felt compelled to attend a protest in Durham, North Carolina, on Saturday because of the “horrifying” killing of Good in Minneapolis.
“We can’t allow it,” Eubanks said. “We have to stand up.”
Indivisible, a social movement organization that formed to resist the Trump administration, said hundreds of protests were scheduled in Texas, Kansas, New Mexico, Ohio, Florida and other states.
In Minneapolis, a coalition of migrant rights groups organized the demonstration that began in a park about half a mile from the residential neighborhood where the 37-year-old Good was shot on Wednesday. Marchers carried signs calling for ICE to leave and voiced support for Good and immigrants.
A couple of miles away, just as the demonstration began, an Associated Press photographer witnessed heavily armed officers — at least one in Border Patrol uniform — approach a person who had been following them. Two of the agents had long guns out when they ordered the person to stop following them, telling him it was his “first and final warning.”
The agents eventually drove onto the interstate without detaining the driver.
Protests held in the neighborhood have been largely peaceful, in contrast to the violence that hit Minneapolis in the aftermath of the killing of George Floyd in 2020. Near the airport, some confrontations erupted on Thursday and Friday between smaller groups of protesters and officers guarding the federal building used as a base for the Twin Cities crackdown.
O’Hara said city police officers have responded to calls about cars abandoned because their drivers have been apprehended by immigration enforcement. In one case, the car was left in park and in another case a dog was left in the vehicle.
He said immigration enforcement activities are happening “all over the city” and that 911 callers have been alerting authorities to ICE activity, arrests and abandoned vehicles.
The Trump administration has deployed thousands of federal officers to Minnesota under a sweeping new crackdown tied in part to allegations of fraud involving Somali residents. More than 2,000 officers were taking part.
Some officers moved in after abruptly pulling out of Louisiana, where they were part of another operation that started last month and was expected to last until February.
Three congresswomen from Minnesota attempted to tour the ICE facility in the Minneapolis federal building on Saturday morning and were initially allowed to enter but then told they had to leave about 10 minutes later.
U.S, Reps. Ilhan Omar, Kelly Morrison and Angie Craig accused ICE agents of obstructing members of Congress from fulfilling their duty to oversee operations there.
“They do not care that they are violating federal law,” Craig said after being turned away.
A federal judge last month temporarily blocked the Trump administration from enforcing policies that limit congressional visits to immigration facilities. The ruling stems from a lawsuit filed by 12 members of Congress who sued in Washington, D.C. to challenge ICE’s amended visitor policies after they were denied entry to detention facilities.
Associated Press writers Allen Breed in Durham, North Carolina, and Scott Bauer in Madison, Wisconsin, contributed.
People place flowers for a memorial at the site where Renee Good was fatally shot by an ICE agent in Minneapolis, Saturday, Jan. 10, 2026. (AP Photo/Jen Golbeck)
Protesters gather during a rally for Renee Good, who was fatally shot by an ICE officer earlier in the week, Friday, Jan. 10, 2026, in Minneapolis. (AP Photo/Jen Golbeck)
Protesters gather during a rally for Renee Good, who was fatally shot by an ICE officer earlier in the week, Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/John Locher)
Demonstrators protest outside the White House in Washington, Saturday, Jan. 10, 2026, against the Immigration and Customs Enforcement agent who fatally shot Renee Good in Minneapolis. (AP Photo/Jose Luis Magana)
Demonstrators march outside the White House in Washington, Saturday, Jan. 10, 2026, against the Immigration and Customs Enforcement agent who fatally shot Renee Good in Minneapolis. (AP Photo/Jose Luis Magana)
Demonstrators march outside the White House in Washington, Saturday, Jan. 10, 2026, against the Immigration and Customs Enforcement agent who fatally shot Renee Good in Minneapolis. (AP Photo/Jose Luis Magana)
Rep. Kelly Morrison D-Minn., center, Rep. Ilhan Omar, D-Minn., second from the right, and Rep. Angie Craig, D-Minn., far right, at the Bishop Whipple Federal Building, Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/Adam Gray)
Minneapolis Mayor Jacob Frey holds a news conference as Police Chief Brian O'Hara listens, on Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/Jen Golbeck)
Protesters gather during a rally for Renee Good, who was fatally shot by an ICE officer earlier in the week, Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/Adam Gray)
Federal agents stand outside the Bishop Henry Whipple Federal Building as protesters gather in Minneapolis, Saturday, Jan. 10, 2026. (AP Photo/Adam Gray)
Federal agents stand outside the Bishop Henry Whipple Federal Building as protesters gather in Minneapolis, Saturday, Jan. 10, 2026. (AP Photo/Adam Gray)
Protesters gather during a rally for Renee Good, who was fatally shot by an ICE officer earlier in the week, Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/Adam Gray)
Federal agents look on as protesters gather during a rally for Renee Good, who was fatally shot by an ICE officer earlier in the week, Saturday, Jan. 10, 2026, in Minneapolis. (AP Photo/Adam Gray)
A woman holds a sign for Renee Good, who was fatally shot by an ICE officer in Minneapolis earlier in the week, as people gather outside the U.S. Immigration and Customs Enforcement facility Friday, Jan. 9, 2026, in Portland, Ore. (AP Photo/Jenny Kane)
Two people sit in the street with their hands up in front of Minnesota State Patrol during a protest and noise demonstration calling for an end to federal immigration enforcement operations in the city, Friday, Jan. 9, 2026, in Minneapolis. (AP Photo/John Locher)
Minnesota State Patrol officers are seen during a protest and noise demonstration calling for an end to federal immigration enforcement operations in the city, Friday, Jan. 9, 2026, in Minneapolis. (AP Photo/John Locher)
Minnesota State Patrol officers are seen during a protest and noise demonstration calling for an end to federal immigration enforcement operations in the city, Friday, Jan. 9, 2026, in Minneapolis. (AP Photo/John Locher)
Two people sit in the street holding hands in front of Minnesota State Patrol during a protest and noise demonstration calling for an end to federal immigration enforcement operations in the city, Friday, Jan. 9, 2026, in Minneapolis. (AP Photo/John Locher)
