PGIM Multi-Asset Solutions appoints Mao Dong as Co-Head of Portfolio Management

PGIM Multi-Asset Solutions (PMA), the solutions specialist of PGIM, has announced the appointment of Mao Dong as Co-Head of Portfolio Management.

PGIM was recently selected as the asset manager for an $11 billion reinsurance transaction by Prudential Financial to Wilton Re. This marks PGIM’s second reinsurance mandate, following its appointment in September 2023 as asset manager for Prismic Life Re, a Bermuda-based life and annuity reinsurance company established by Prudential Financial and Warburg Pincus.

In his new role, Dong will focus on designing and managing multi-asset portfolios for institutional clients, including developing and applying relative value views across public and private investment strategies.

He will share portfolio management duties with co-head Jonathan Holt and report to Alfred Lerman, Chief Investment Officer of PMA.

Phil Waldeck, CEO of PMA, commented, “Our insurance, reinsurance and pension fund clients increasingly require complex multi-asset class portfolio construction and management. Mao’s appointment is another important milestone in building PGIM’s multi-asset solutions business to meet the needs of those clients.”

Dong joins PGIM from Goldman Sachs Asset Management, where he spent over 14 years, most recently serving as Head of Portfolio Construction and Manager Selection & Co-Head of OCIO Portfolio Management.

PMA, which has grown its assets under management to $17 billion since its formation in 2022, continues to expand. In June, the company also appointed Eoin Elliffe as Chief Risk Officer.

Elliffe is tasked with strengthening PMA’s risk framework and supporting the development of investment and risk management solutions for clients.

Waldeck added, “Eoin’s expertise will help us develop our capabilities and strengthen our value proposition for each of our market segments: insurance and reinsurance companies, and pension funds.”

Elliffe previously served as Chief Risk Officer at Midwest Holding and has extensive experience in asset-liability management, trading, and risk management in the re/insurance and investment sectors.

“With these appointments we have created a team with a deep understanding of the solutions which insurers and pension funds require. I look forward to seeing them contribute to our continued success,” Waldeck concluded.

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