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Wednesday, October 13, 1999

Top of the Rock

Reported by Jason Shank

Prudential Investments has named Philip Schettewi as head of its public equity management organization. This unit of the business manages assets for 401(k)'s, mutual funds, annuities, and other institutional accounts. This is a newly created post, a spokesperson with the firm told InvestmentWires.

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"As head of Prudential's equity organization, Phil will be responsible for setting the vision and strategic direction for the equity group. Together with the heads of the value, global growth and quantitative management groups, he will set a course for excellence in performance and robust asset growth," contended John Strangfeld, executive vice president of Prudential and head of Prudential Global Asset Management. Schettewi reports to Strangfeld.

In July, Schettewi had joined Pru as head of the company's value equity management team. From 1991 to July 1999, the official had served at Loomis, Sayles & Company as a money manager. Before he left, Schettewi was managing partner, director, and CIO at that firm. 

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