Prudential Investment Management hires Michael Schlachter to lead new multi-asset class solutions offering
NEWARK, N.J.--(BUSINESS WIRE)--Prudential Investment Management has named Michael Schlachter the head of its Multi-Asset Class Solutions group, a newly formed team that will address the most pressing portfolio-wide challenges faced by institutional investors. Prudential Investment Management, which ranks among the world’s largest asset managers* with offices in 16 countries, comprises the asset management businesses of Prudential Financial, Inc. (NYSE:PRU).
“As institutional investors look to consolidate their relationships, they need strategic partnerships with firms who share their global perspective and offer more than just single asset class investment management. I’m delighted to join Prudential and support its solutions-oriented approach.”
MACS will leverage the breadth of Prudential’s asset management capabilities across public and private fixed income, equities, real estate and alternatives to help investors solve issues around asset allocation, portfolio construction, dynamic de-risking and hedging. The new group will serve institutional clients around the world.
Schlachter joins Prudential from Wilshire Associates, where he most recently was a managing director and lead consultant to multinational corporations, state governments and federal agencies, with an emphasis on asset allocation, risk and liability management, and portfolio structuring.
“Our clients increasingly ask for our expertise to develop strategies across their portfolios that will enable them to achieve long-term objectives and absolute risk-adjusted performance. Prudential’s unique combination of experience in liability and asset management makes us well-suited to meet those needs,” said David Hunt, CEO of Prudential Investment Management. “Michael’s deep industry experience and understanding of our clients is invaluable as he leads the effort to create holistic investment solutions in collaboration with each of our asset management businesses.”
Schlachter added, “As institutional investors look to consolidate their relationships, they need strategic partnerships with firms who share their global perspective and offer more than just single asset class investment management. I’m delighted to join Prudential and support its solutions-oriented approach.”
Schlachter joined Wilshire in 1999, most recently serving as the primary general pension consultant for one of the largest pension plans in the U.S. He has held a wide range of roles at Wilshire that include providing asset allocation and investment structure analysis for clients, and helping plan sponsors to develop long-term strategic investment policies. Earlier, he worked as a financial analyst at Goldman Sachs.
Schlachter holds the Charted Financial Analyst designation and has an MBA from the University of Chicago. He earned his bachelor’s degree in politics and economics from Princeton University.
Prudential Investment Management’s businesses offer a range of investment solutions for retail and institutional investors around the world across all asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in the U.S., the U.K., Asia, Latin America and the Middle East and had $891 billion in assets under management as of March 31, 2014. For more information, please visit http://www.investmentmanagement.prudential.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1.1 trillion of assets under management as of March 31, 2014, 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 and investment management. 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.
* Based on Pensions & Investments 2013 Top Money Managers ranking of worldwide assets, which listed Prudential Financial as the 10th largest asset manager.