PREI® names David DeVos global sustainability officer

PARSIPPANY, N.J.--(BUSINESS WIRE)--Prudential Real Estate Investors has named David DeVos as its new Global Sustainability Officer, responsible for overseeing the company’s evolving strategy to reduce its worldwide environmental footprint as it serves its investors. PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE:PRU).

“David brings an impressive track record of producing cost-effective, innovative solutions in building design, construction and sustainability—experience that adds depth to our initiative.”

“PREI has so far made tremendous progress integrating sustainability into our business and culture, and assessing the opportunities and potential risks that climate change and sustainability-related issues present for our business and investment portfolios,” said Allen Smith, CEO of PREI. “David brings an impressive track record of producing cost-effective, innovative solutions in building design, construction and sustainability—experience that adds depth to our initiative.”

DeVos will lead PREI’s Global Sustainability Committee and oversee its regional committees in the U.S., Europe, Latin America and Asia. PREI launched its sustainability initiative in 2008 to increase environmental awareness and ensure the firm protects and maximizes the value of each investment through energy and resource conservation. For more information about PREI’s sustainability strategy, or to see its 2009 Sustainability Report, please visit http://www.prei.com.

Before joining PREI, DeVos co-founded Ecoxera, a consulting firm that helps companies develop sustainability standards. Earlier, as director of corporate sustainability, he managed the sustainability program for Kohl’s Department Stores, leading an effort that resulted in Kohl’s being ranked as the No. 1 retail company in Newsweek magazine’s 2009 green rankings. He was also previously vice president of store design for Follett Higher Education Group.

DeVos has an MBA in management from the Lake Forest Graduate School of Management and bachelor’s degrees in architecture and environmental design from the University of Minnesota. He is a member of the U.S. Green Building Council’s LEED- Retail and Existing Buildings Working Group, Green Roofs for Healthy Cities, the U.S. Department of Energy’s Retailer Energy Alliance Steering Committee and a member of the American Institute of Architects.

PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, Asia, and Latin America. Headquartered in Parsippany, N.J., PREI has offices in Atlanta, Chicago, New York, San Francisco, Miami, London, Lisbon, Madrid, Munich, Paris, Luxembourg, Istanbul, Singapore, Mexico City, Rio de Janeiro, Hong Kong, Beijing and Tokyo. As of March 31, 2010, PREI managed about $43.8 billion in gross real estate assets ($22.8 billion net) on behalf of more than 490 clients worldwide and ranks among the largest real estate investment managers. For more information, please visit http://www.prei.com

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $690 billion of assets under management as of June 30, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.