PGIM, the $1.3 trillion global investment management business of Prudential Financial, will expand into the Middle East, subject to regulatory approvals.
To lead its regional expansion, PGIM has appointed Mohammed Abdulmalek as senior advisor and chairman of PGIM’s Middle East council. The council has been established to evaluate and advise on the expansion initiative and comprises PGIM’s client teams active in the Middle East. On receipt of appropriate regulatory permissions, Mr Abdulmalek will take on the role of Head of the Middle East.
This strategic expansion will be PGIM’s first on-the-ground presence in the region as it aims to deepen its commitment to the Middle East and enhance relationships with institutional and professional clients. With a nearly 150-year history of active management, PGIM offers investment strategies and client advisory services across private and public markets. Its multi-manager model means PGIM has deep asset class expertise and risk management discipline across public fixed income and equity, as well as private alternatives including real estate debt and equity, private credit, private equity secondaries, and agriculture.
With 30 years of experience in asset management and investment banking in the Middle East, Abdulmalek has held various senior management positions at J.P. Morgan Chase, UBS Asset Management, and Deutsche Bank Asset Management. Most recently, he ran his own private advisory practice assisting prominent regional institutions and family offices in optimizing their investment portfolios.
PGIM President and CEO David Hunt commented, “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.
“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.”
Abdulmalek added, “With the region undergoing significant economic changes, PGIM is well-positioned to offer tailored investment solutions that align with the evolving needs of investors. I look forward to contributing to PGIM’s growth in this dynamic market.”
