PPM America Names Jim Young Chief Investment Officer

CHICAGO--(BUSINESS WIRE)--PPM America (PPMA), an institutional investment advisory services provider with approximately $78 billion in assets under management¹, has promoted Jim Young to Chief Investment Officer. In this role, Mr. Young, 42, will oversee all portfolio management and public fixed income functions in addition to retaining his existing responsibilities. Mr. Young is also the chairman of firm’s Credit Approval Committee.

“Jim’s superb credit skills coupled with his ability to quickly assess and react to changing market conditions has proven invaluable during his tenure at PPMA”

In his new role as chief investment officer, Mr. Young plans to maintain the firm’s strategy of taking a pure value, long-term approach to investing and uphold its commitment to in-depth, fundamental research. He will continue to report to Leandra Knes, president and chief executive officer of PPMA, who previously held the role of CIO in addition to her executive responsibilities.

“Jim’s superb credit skills coupled with his ability to quickly assess and react to changing market conditions has proven invaluable during his tenure at PPMA,” said Knes. “The company’s management team relies on constant collaboration and an open exchange of ideas in order to achieve our mission, which is to be indispensable to our clients. Jim has been an integral member of the team for 11 years, and I am confident that his expanded responsibilities will allow him to have an even greater impact on the success of the organization going forward.”

As chief credit officer, Mr. Young directs PPMA’s Credit Research Group, which provides credit analysis and industry research for the company’s public and private fixed income portfolios. He also oversees the firm’s Structured Finance team, which is responsible for all structured finance investments, including public and private asset-backed securities, mortgage-backed securities and collateralized debt obligations (CDOs). Previously, Mr. Young served as senior managing director in charge of PPMA’s Traditional Private Placement team, a group he helped form in 1997.

Before joining PPMA in 1997, Mr. Young worked for Heller Financial in Chicago for nearly six years in both underwriting and syndication capacities. He began his career in Chicago's First Scholar program. Mr. Young earned an MBA in Finance from Northwestern University's Kellogg Graduate School of Management in 1991, and graduated summa cum laude with a bachelor's degree in economics and business from Wittenberg University in 1988.

About PPM America, Inc.

Headquartered in Chicago, Ill., PPM America and its affiliates manage approximately $78 billion in assets¹ for numerous clients, including insurance companies, mutual funds and unit trusts. PPM America is an indirect, wholly owned subsidiary of Prudential plc (NYSE: PUK), a company incorporated and with its principal place of business in the United Kingdom. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

¹ As of 5/31/08, including PPM Finance, Inc.