is taking over an asset manager that's part of another publicly-traded insurer.
| Jeffrey Becker
Chairman and Chief Executive Officer
Becker, age 50, will join Jennison Associates
as chairman and CEO on October 3, Jennison president Sig Segalas
] president and CEO David Hunt confirm
. Jennison is a shop within PGIM, Prudential Financial's
global asset management arm.
The revelation comes shortly after Voya
the appointment of a new CEO of its asset management arm, Voya Investment Management, in the wake of Becker's leaving "for an opportunity at another company."
Becker succeeds Nehdi Mahmud
, who left Jennison in March and took over
Hunt trumpets Becker's "indisputable success as a CEO in the asset management industry." Segalas, one of the founders of Jennison, praises Becker as a complement to Jennison's "existing team."
"He embraces our entrepreneurial investment culture and fundamental research-based investment management," Segalas states.
Becker is an alumnus of both Colgate and NYU. He joined what is now Voya IM in 1998 and took over in 2009. Prior to Voya he worked with Aetna and Arthur Andersen.
PGIM has more than $1 trillion in worldwide AUM as of June 30. Of that, Jennison works with $165.2 billion in client assets.
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