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19 October 2016

James Sullivan to retire from Prudential after 35-year career

NEWARK, N.J. Oct. 19, 2016—PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU), today announced that James Sullivan, executive chairman of Prudential Fixed Income, will retire at the end of 2016. As announced a year ago, Mike Lillard succeeded Sullivan as head of Prudential Fixed Income, in addition to his role as chief investment officer, effective Jan. 1, 2016.

“With Jim at the helm, we have built an outstanding global business and deep team that has demonstrated investment leadership and outperformance across key fixed income strategies, leading to growth in both clients and assets,” said David Hunt, president and chief executive officer of PGIM. “Jim has tirelessly developed a truly global organization with a formidable leadership team. Mike will carry on in this tradition as our business grows and evolves.”

Since 1999, Prudential Fixed Income has grown under Sullivan’s leadership to more than $650 billion in assets under management globally from approximately $100 billion. The number of client relationships has multiplied tenfold over the same period.
Prudential Fixed Income, a part of PGIM, is a global asset manager offering active solutions across all fixed income markets. Prudential Fixed Income manages assets for institutional clients and retail investors worldwide with $652 billion of assets under management as of June 30, 2016. For more information, please visit

About PGIM
PGIM is a top 10 global investment manager offering a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents and had over $1 trillion in assets under management as of September 30, 2016. PGIM is the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). For more information, please visit


Mayura Hooper
phone: 973-367-7930
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