Prudential Financial has appointed Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025. Chappuis will report to Andrew Sullivan, head of International Businesses and Global Investment Management for Prudential Financial. He 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. 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. At MSIM, he played a key role in the transformative and successful integration of Eaton Vance. From 2006 to 2013, he held senior leadership roles in Morgan Stanley’s Investment Management and Wealth Management businesses.
CME Group has extended Chairman and Chief Executive Officer Terry Duffy‘s contract through December 31, 2026. The company also announced Lynne Fitzpatrick will take on the expanded role of President and Chief Financial Officer. Additionally, its Chief Operating Officer Julie Holzrichter has decided to step down from her role to begin serving as an advisor to the company. Suzanne Sprague will succeed Holzrichter as Chief Operating Officer and Global Head of Clearing. Sprague, who has served as Senior Managing Director and Global Head of Clearing and Post-Trade Services since 2022, joined CME Group in 2002. She has served in a range of leadership positions in financial and risk management since that time, including Managing Director, Credit & Liquidity Risk, Risk Policy & Banking.
Tom Darnowski has been promoted to Schroders CEO Americas, effective January 1, 2025. Darnowski has been with Schroders for over ten years and most recently served as the firm’s Global Head of Product Strategy, where he oversaw Schroders’ global product range and explored innovative ways to meet client needs. Prior to this role, he served as Head of Product Development, North America, and eventually of the Americas. He joined Schroders in 2013 from The Hartford, a U.S.-based investment and insurance company.
Blackstone has announced that Chris James – currently Chief Operating Officer (COO) and a founding member of Blackstone Tactical Opportunities (Tac Opps), with nearly two decades of experience at Blackstone – will become Global Head of Tac Opps. He will succeed David Blitzer, who will transition to chairman of the business at year end. Blackstone has also announced the elevation of two long-time senior Tac Opps partners to expanded leadership roles for the business. Jas Khaira will be Head of Tactical Opportunities Americas and Qasim Abbas will be Head of Tactical Opportunities International.
MarketAxess Holdings has announced that Founder and Executive Chairman Rick McVey will retire at the end of the year. McVey stepped down as CEO of MarketAxess in April 2023 after 23 years in that role, and has since been serving as Executive Chairman of the Board. Carlos Hernandez will succeed McVey as Chairman of the Board of Directors, effective January 1, 2025. McVey has agreed to remain as the Chairman of the Board of Directors of MarketAxess, the Company’s international holding company.
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