Citywire Selector - For Professional Investors

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

PGIM Fixed Income corporates chief to retire after two decades in post

US-based asset manager announces successors for Steven Kellner, who has overseen the growth of the division from $44bn to $357bn.

PGIM Fixed Income corporates chief to retire after two decades in post

PGIM Fixed Income has announced that its head of corporates, Steven Kellner, will retire in April 2022.

Kellner joined the firm in 1986 and has been head of corporate bond strategies since 1999.

He will be succeeded by portfolio managers Terence Wheat and David Del Vecchio, who will become co-heads to lead the US investment grade corporate team.

Meanwhile, portfolio manager Ed Farley will continue to lead the European corporate team and the global corporate strategy.

Head of PGIM Fixed Income Mike Lillard said: ‘Steve [Kellner] has built a deep and experienced team which has delivered both consistent, long-term performance and investment leadership for our clients. Under Steve’s leadership corporate bond assets have grown from $44bn in 1999 to $357bn.

‘Our long-term succession planning has enabled us to cultivate top talent, and that’s evident in the latest evolution of our Corporate team leadership.’

The firm said Wheat and Del Vecchio have been working directly with Kellner for 15 years, managing US investment grade corporate assets.

Share this story

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Share this story


Related Fund Managers

David Del Vecchio
David Del Vecchio Average Total Return:
99/133 in Bonds - US Dollar Corporates (Performance over 3 years)
Steven A. Kellner
Steven A. Kellner Average Total Return:
41/129 in Bonds - Global Corporates (Performance over 3 years)
Read More