Pru unit PGIM Real Estate names head of innovation

PGIM Real Estate, the real estate investment and financing business that is part of the Prudential Financial Inc. family, has named a new global head of innovation, it announced Wednesday.

Sara Shank, who had been managing director and head of portfolio management with Beacon Capital Partners, will join PGIM Real Estate’s Manhattan office as managing director and innovation leader, according to a news release.

“Innovation has been a hallmark of our firm since its inception,” PGIM Real Estate CEO Eric Adler said in a prepared statement. “Now, more than ever, it is imperative to adapt and evolve as an organization to meet the major disruptions that are changing every facet of our business — from our investment process, to asset management, client relationship management and our day-to-day operations. Sara is uniquely positioned to take on this challenge, and I am thrilled she has joined our team.”

In her new role, Shank will lead the firm’s efforts to advance investment decision-making and business operations through the use of data and technology. PGIM Real Estate is a unit of PGIM, Newark-based Prudential’s $1.3 trillion global investment management business.

“I am thrilled for the opportunity to advance PGIM Real Estate’s strategic priority to employ new and innovative technology solutions, including ones that harness the company’s extensive proprietary data, to drive exceptional results for clients,” Shank said in a statement.

Shank has more than 20 years of real estate experience in a variety of specialties, including innovation, portfolio management and asset management.