Prudential Financial, Inc. announced that it has appointed Matthew (Matt) Armas senior vice president and chief investment officer, effective March 12, 2026.
He will succeed Timothy L. Schmidt, who will retire in 2026 after 16 years with the firm. Schmidt will stay on in an advisory capacity through August 31 to ensure a smooth leadership transition.
Armas is known for building and leading large insurance-oriented organizations, designing and implementing asset liability — sensitive investment strategies, and helping organizations integrate risk and performance in complex environments.
“On behalf of the entire Prudential team, I want to thank Tim for the legacy of strength he leaves in place for Matt and our General Account. That legacy positions us well as we sharpen our focus on delivering profitable, long-term growth over time,” said Andrew Sullivan, Prudential Financial’s chief executive officer.
“Matt’s deep insurance and investment expertise puts him in a strong position to help shape our evolving investment strategy and ensure we fulfill the promises we make to our customers.”
Armas joins Prudential from Goldman Sachs Asset Management, where he served as global co-head of insurance. In that role, he advised Goldman Sachs’ global insurance clients on portfolio construction across public and private markets, with a focus on delivering long-term value through disciplined investing.
“Prudential has a long-standing commitment to disciplined investing and clarity of purpose in solving the financial challenges of our changing world,” said Armas. “I look forward to building on the strong foundation Tim and the team have created to support Prudential’s continued evolution and growth.”
Before Goldman Sachs Asset Management, Armas was an investment research analyst at GE Asset Management and a lieutenant in the U.S. Navy.
