PGIM Fixed Income makes senior appointments

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PGIM Fixed Income, part of PGIM, is making three senior appointments effective 1 January, 2022. 

John Vibert, managing director, will move to the newly created role of president. Vibert joined PGIM Fixed Income in 2014 as the head of securitised products and serves in that role currently. Prior to joining PGIM Fixed Income, Vibert was a lead portfolio manager for BlackRock’s mortgage credit portfolios and the lead trader for its non-agency Residential Mortgage-Backed Securities (RMBS) trading team. He also held senior investment positions at Credit Suisse and Morgan Stanley. 

Craig Dewling and Gregory Peters, both managing directors, will become co-chief investment officers. Dewling and Peters will take over CIO duties from Michael Lillard, head of PGIM Fixed Income and CIO. Dewling joined the firm in 1987 and currently serves as the deputy chief investment officer. Peters joined the firm in 2014 and currently serves as the head of multi-sector and strategy and as a senior portfolio manager for the firm’s multi-sector strategies. Prior to joining PGIM Fixed Income, Peters was the chief global cross asset strategist at Morgan Stanley, responsible for the firm’s macro research and asset allocation strategy. Additionally, he was Morgan Stanley’s global director of fixed income and economic research. 

Vibert, Dewling and Peters will report to Lillard who will remain the head of PGIM Fixed Income. 

Lillard says: “I am excited to announce these senior appointments as part of our continuing efforts to broaden the leadership structure of the firm and strengthen our long-term succession plan. Given our more than threefold growth in assets over the last ten years, I believe naming a president and splitting the CIO roles positions us well to continue providing the investment performance and service that our clients know and expect. As head of securitised products, John is a proven and natural leader, driving both strong investment results and a positive team culture. In his role as president, John will work closely with me on the strategic direction and overall management of the firm, including oversight of our global operations, technology, and business management functions. John will also continue to oversee our global collateralied loan obligation business.

“Having served as the CIO of PGIM Fixed Income since 2008, I believe it is the right time to have Craig and Greg take over these responsibilities. As deputy CIO, Craig has overseen many of the day-to-day investment functions for the last two years. His deep experience with multi-sector and liquidity portfolios, as well as the management of insurance assets, has been a key driver of our success. Craig has spent his entire career at the firm, and I am confident that he brings an important element of continuity between the historical foundations of our success and our aspirations for the future. Greg’s extensive multi-sector portfolio management and global macro investment strategy experience has been instrumental in broadening our overall investment strategy. I believe Craig and Greg’s complementary skill sets will enable us to strengthen our investment process and allow us to further develop our investment professionals for many years to come.” 

Upon Vibert assuming the role of president, he will relinquish the role of head of securitised products. Gabriel Rivera and Edwin Wilches will become co-heads of securitised products reporting to Peters. Gary Horbacz will become head of securitised products research, reporting to Rivera and Wilches. 

Upon Dewling and Peters becoming co-CIOs, the deputy CIO role will be eliminated as those duties will be incorporated into the CIO function. In addition to his CIO duties, Peters will remain a senior portfolio manager on the multi-sector team. 

As always, PGIM Fixed Income remains focused on providing clients with outstanding investment performance and service.