PGIM Names New Head of DC Solutions
PGIM, the management business of Prudential Financial Inc. that had $1.5 trillion in global assets as of June 30, hired long-time Franklin Templeton Inc. executive Yaqub Ahmed to head its defined contribution solutions.
In his new role, Ahmed will report to Stuart Parker, PGIM’s head of global wealth, and lead the firm’s “holistic DC strategy across international and wealth channels,” according to the announcement.
The appointment follows a “series of strategic hires” in PGIM’s DC solutions group aimed at improving outcomes of plan participants and deepening the firm’s “relationships with the marketplace,” per the announcement.
In a LinkedIn post, Ahmed wrote, “I’m excited to join PGIM as Managing Director, Head of DC Solutions. I’m grateful to [PGIM Head of Global Wealth] Stuart Parker for his confidence in me and look forward to working alongside … the broader PGIM DC Solutions team.”
In a separate post, David Blanchett, head of retirement research at Prudential Financial, wrote that he was “looking forward to working with Yaqub Ahmed.”
Ahmed joins PGIM with more than 30 years of financial services experience, 17 of them at Franklin Templeton. Most recently, he led the firm’s Franklin Innovation Research Strategies and Technology group—FIRST—which was founded in 2024.
Prudential sold its retirement plan recordkeeping business to Empower in 2022, leaving PGIM as a defined-contribution-investment-only manager.
PGIM had more than $190 billion in total DC assets under management as of March 31.
