PGIM has appointed Yaqub “Qub” Ahmed as Head of Defined Contribution Solutions, adding a veteran retirement executive as the $1.5 trillion asset manager expands its strategy across institutional and wealth channels.
Ahmed will lead PGIM’s overall defined contribution strategy and bring together the firm’s investment and advisory capabilities for plan sponsors, consultants, financial advisors and retirement plan participants.
He will report to Stuart Parker, Head of Global Wealth at PGIM.
The appointment comes as PGIM sees significant changes taking place across the defined contribution market.
Those shifts include increased demand for retirement income products, personalized investment advice, access to private markets and changes in the fiduciary environment.
PGIM also sees the traditional boundaries between institutional retirement platforms and wealth management channels becoming less distinct as participants require more support both while accumulating retirement assets and when beginning to spend them.
Ahmed brings more than 30 years of financial services experience.
His background includes leadership across retirement and insurance asset management businesses as well as work involving managed accounts, personalized advice and private market investments within defined contribution plans.
He also brings significant industry board experience.
PGIM manages more than $190 billion in defined contribution assets.
The firm has also been developing private-market solutions for retirement plans for decades and said it was among the first asset managers to provide defined contribution investors with access to private real estate through a dedicated vehicle more than 20 years ago.
Ahmed’s appointment follows several senior additions to PGIM’s DC Solutions organization as the firm deepens its relationships with plan sponsors and expands the investment options available to retirement investors.
PGIM has approximately 1,500 investment professionals across 40 offices in 20 countries and manages $1.5 trillion across public and private markets.
KEY QUOTES:
“Qub brings deep expertise across the retirement landscape and a strong track record of building innovative solutions that address the evolving challenges facing retirement plans and their participants.”
Stuart Parker, Head Of Global Wealth At PGIM
“The DC market is entering a period of meaningful evolution as plan sponsors seek new ways to improve participant outcomes and provide access to a broader range of investment solutions spanning retirement income, alternatives, and personalized outcomes.”
Yaqub Ahmed, Head Of Defined Contribution Solutions At PGIM
