Nathan Sheets joins PGIM Fixed Income as chief economist

NEWARK, N.J.--(BUSINESS WIRE)--Nathan Sheets has joined PGIM Fixed Income as chief economist and head
of Global Macroeconomic Research. With $654 billion in assets under
management as of March 31, 2017, PGIM Fixed Income is among the largest
global fixed income managers. PGIM Fixed Income is a business of PGIM,
the global investment management businesses of Prudential Financial,
Inc. (NYSE:PRU).



Sheets will report to Arvind Rajan, head of Global and Macro at PGIM
Fixed Income
. He will be responsible for oversight of PGIM Fixed
Income’s Global Macroeconomic Research team, which includes senior
analysts with extensive experience in the public and private sectors.

Sheets will lead the formulation of the global macroeconomic outlook,
which is integral to the firm’s global investment strategy. He and his
team will also support PGIM Fixed Income’s fundamental views on both
developed and emerging countries, supporting alpha generation in global
interest rate, currency, sovereign and credit markets. He will be a
member of the senior investment team and will provide thought leadership
on global monetary and fiscal policy and macroeconomic trends.

Sheets has held a variety of leadership roles in the U.S. government and
the financial industry and is currently a visiting fellow at the
Peterson Institute for International Economics. He was most recently the
undersecretary of the U.S. Treasury for international affairs,
representing the U.S. government on international economic policy.
Previously, he held positions with Citigroup, as global head of
International Economics, and with the Federal Reserve Board, most
recently as director of the Division of International Finance and FOMC
Economist. In addition, Sheets was a senior advisor to the executive
director of the International Monetary Fund. He earned his bachelor’s
degree in economics from Brigham Young University and his Ph.D. from the
Massachusetts Institute of Technology.

Said Rajan, “Nathan Sheets is one of the world’s foremost experts on the
global economy and economic policy matters, with a record of
accomplishments in some of the most senior international roles in
government and the banking industry. Our investors look to us for
leadership and guidance on the increasingly complex and interdependent
macroeconomic forces that drive global financial markets and investment
outcomes. Adding a person of Nathan’s stature will enhance our thought
leadership and investment management capabilities in this crucial area.”

About PGIM Fixed Income

PGIM Fixed Income, with $654 billion in assets under management as of
March 31, 2017, is a global asset manager offering active solutions
across all fixed income markets. The company has offices in Newark,
N.J., London, Tokyo and Singapore. For more information, visit www.pgimfixedincome.com.

About PGIM

With 14 consecutive years of positive third-party institutional net
flows, PGIM
ranks among the top 10 largest asset managers in the world with more
than $1 trillion in assets under management as of March 31, 2017. PGIM’s
businesses offer 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.

Prudential Financial, Inc. (NYSE:
PRU)
, is a financial services leader headquartered in the United
States with operations in Asia, Europe and Latin America. Its additional
businesses offer a variety of products and services, including life
insurance, annuities and retirement-related services. Prudential
Financial, Inc., of the United States is not affiliated in any manner
with Prudential plc, a company incorporated in the United Kingdom. For
more information about PGIM, please visit www.pgim.com.
For more information about Prudential, please visit news.prudential.com.


Contacts

PGIM
Claire Currie, +1 973-802-4040
claire.currie@pgim.com