Morgan Stanley Executive Named New PGIM President and CEO

Gregory A. Fleming of Morgan Stanley Will Assume PGIM Leadership in June

Fleming Succeeds David Hunt, Who Will Remain as Chairman and Special Advisor

Prudential Financial's investment management and retirement solutions business, PGIM, has appointed Morgan Stanley executive Gregory A. Fleming as its new president and CEO. Fleming will succeed David Hunt, who has led PGIM since 2019 and will continue to serve as chairman and special advisor to Fleming.

Fleming has a wealth of experience in the financial services industry. He currently serves as Morgan Stanley's president and chief operating officer and has held various leadership roles at the firm since joining in 2009.

In his new role at PGIM, Fleming will be responsible for leading the business and driving its growth strategy. He will oversee PGIM's global investment teams, distribution channels, and product development.

"Greg is a highly respected leader with a proven track record of success in the financial services industry," said Charles Lowrey, chairman and CEO of Prudential Financial.

"His deep understanding of the investment management business and his commitment to innovation will be invaluable as we continue to grow PGIM and deliver value to our clients."

Fleming said he is excited to join PGIM and lead the business into the future.

"PGIM is a world-class investment manager with a long history of delivering strong returns for clients," Fleming said.

"I look forward to working with the talented team at PGIM to build on the firm's success and continue to provide our clients with the investment solutions they need to achieve their financial goals."

Fleming will assume his new role at PGIM on June 1, 2023.