PGIM Real Estate announces leadership appointments
Following the planned retirement of Kevin Smith, PGIM Real Estate has announced key Americas leadership roles for Cathy Marcus and Alfonso Munk, effective Jan. 1.
PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial.
Smith, most recently head of Americas at PGIM Real Estate, will retire in March 2018 after 36 years at the company. Marcus has been named head of the U.S. business, in addition to her role as global COO. Munk will continue in his role as Americas CIO and will serve as head of Latin America.
Smith’s retirement and the succession plans were announced to investors in May 2017.
Since joining the company in 1998, Marcus has served in a range of transactions and portfolio management roles, including senior portfolio manager for PGIM Real Estate’s flagship core equity real estate fund. As head of the U.S. business, Marcus is responsible for the development and implementation of PGIM Real Estate’s strategy and operations in the United States, and has oversight of U.S. portfolio and asset management. She continues to globally oversee PGIM Real Estate’s business and investment operations in her capacity as global chief operating officer.
Munk joined the company in 2012 to help lead the Latin America business, and retained oversight of the day-to-day Latin America operations upon his appointment to Americas CIO in 2015. Munk continues to oversee the United States and Latin America transactions teams in his capacity as Americas CIO. As head of Latin America, Munk is responsible for the development and implementation of strategy and operations in Latin America, and has oversight of Latin America portfolio and asset management.
Supporting Marcus, Philip Barrett, PGIM Real Estate global chief investment risk officer, has assumed a new and expanded role managing the company’s day-to-day business and investment operations globally. Further, Len Kaplan, currently head of customized investment strategies, was named global chief investment risk officer.
