PGIM’s quantitative investment arm has new CEO

Newark-based PGIM, Prudential Financial’s global investment management business, appointed a new CEO to lead its quantitative investment arm, QMA.

Linda Gibson will replace QMA’s current CEO, Andrew Dyson, on Oct. 15. Dyson is stepping down for personal reasons unrelated to the business, PGIM said in a statement.

“Linda brings nearly 30 years of global leadership experience across multiple business functions and a strong understanding of the asset management industry,” PGIM CEO David Hunt said. “This is an exciting time for the firm.”

Gibson worked in a variety of executive leadership positions at BrightSphere Investment Group before joining QMA in 2019 as its chief business officer.

“I’m honored to be leading this firm into the next phase of its development,” Gibson said. “Over the last few years, we have built on our quant heritage to provide increasingly diversified and customized solutions to address the evolving needs of our clients. I am firmly focused on building on that progress.”

Gibson’s appointment comes as QMA is rebranding to PGIM Quantitative Solutions, which will be effective Sept. 28. The firm also announced the launch of a defined contribution unit, PGIM DC Solutions.

“The market is increasingly demanding a comprehensive approach to retirement income, which requires a range of new thinking and solutions, deployed in a flexible way,” Gibson said. “We have created PGIM DC Solutions to spearhead that effort and target market leadership in this new arena.”