The investment management arm of Prudential Financial is expanding in the Middle East with the hire of a 30-year industry veteran.
PGIM has appointed Mohammed Abdulmalek as senior advisor and chairman of its Middle East council, according to a statement. The council has been established to evaluate and advise on the expansion initiative and comprises of PGIM’s client teams active in the region.
And after obtaining appropriate regulatory permissions, Abdulmalek will take on the role of head of the Middle East.
30-Year Veteran
Abdulmalek has 30 years of experience in asset management and investment banking in the Middle East. Previously, he held various senior management roles at J.P. Morgan, UBS Asset Management and Deutsche Bank Asset Management. Most recently, he ran his own private advisory practice assisting regional institutions and family offices in optimizing their investment portfolios.
«PGIM has been investing on behalf of clients across the Middle East for many years and is now looking to establish a meaningful presence in the region to meet clients’ changing needs,» said PGIM president and CEO David Hunt.
«As the Middle East, and the Arabian Gulf in particular, undergoes economic transformation and fast becomes a key component of the global financial ecosystem, Mohammed will play an instrumental role in evolving PGIM’s local offering to support investors in navigating this dynamic environment.»
