In a pivotal move within the global asset management industry, PGIM—Prudential Financial’s $1.4 trillion investment management arm—has appointed Jacques Chappuis as its new Chief Executive Officer. The announcement marks a significant leadership transition as current CEO David Hunt prepares to step down after more than a decade of transformative leadership.
Chappuis, an industry veteran with a strong reputation for strategy and innovation, will officially assume the CEO role in May 2025. Hunt will remain involved as Chair through July 31 to support a seamless transition and ensure organizational continuity.
With over 30 years of experience across some of the world’s most respected financial institutions, Chappuis brings a deep understanding of investment management and global market dynamics. Most recently, he served as Co-Head of Morgan Stanley Investment Management, where he oversaw the growth of client portfolios and strategic business expansion. His career has also included senior leadership roles at The Carlyle Group, Citigroup, and Boston Consulting Group, giving him a uniquely broad and global perspective.
Chappuis’s appointment comes at a time when the asset management industry is undergoing dramatic transformation. Firms are navigating an evolving landscape shaped by volatile markets, increasing demand for sustainable investments, digital disruption, and changing investor expectations. Against this backdrop, PGIM’s decision to bring in a leader with both institutional knowledge and fresh energy reflects its ambitions to stay at the forefront of innovation and performance.
Under David Hunt’s leadership, PGIM has seen remarkable growth. When Hunt joined in 2011, the firm managed around $600 billion in assets. Today, that figure has more than doubled, with PGIM recognized as one of the top 10 asset managers globally. His legacy includes deepening the firm’s capabilities across public and private markets, expanding its international presence, and investing in cutting-edge data and research infrastructure.
In his first statement since the announcement, Chappuis expressed his enthusiasm for leading PGIM during what he described as a “defining decade for the global investment community.” He emphasized the importance of client-centric innovation, long-term thinking, and sustainable value creation. “PGIM has built an extraordinary platform under David’s leadership,” Chappuis said. “I’m honored to take the baton and help write the next chapter of growth and impact.”
Industry analysts and stakeholders have largely responded positively to the news, highlighting Chappuis’s reputation for collaborative leadership and his track record in driving growth through innovation. His appointment aligns with PGIM’s strategic direction—leveraging scale, data, and global partnerships to deliver consistent, long-term returns.
The transition also reflects a broader wave of leadership changes in the financial sector, as firms seek to adapt to a post-pandemic world marked by rapid technological advancement, geopolitical uncertainty, and a shift toward more transparent, values-driven business models.
As PGIM looks to the future under Chappuis’s leadership, the firm is expected to double down on its commitments to ESG investing, AI-enabled portfolio strategies, and expanding its reach across emerging markets.
This leadership change signals a renewed era for PGIM—one that blends legacy strength with forward-focused leadership at a time when the asset management world is being reshaped by both challenge and opportunity.
