Prudential Hires Booth Alum to Lead New Team
Prudential Financial Inc., the second-largest U.S. life insurer, hired Michael Schlachter, Booth School of Business MBA Alumnus, from Wilshire Associates to lead the company’s Multi-Asset Class Solutions group.
The newly created team will help institutional investors deploy funds to public and private bonds and equities, real estate and alternative assets and to hedge their wagers. Where does Schlachter come in? He will hire a small number of people and connect clients with Prudential money managers, said Theresa Miller, a spokeswoman for the insurer’s investment management arm.
“As institutional investors look to consolidate their relationships, they need strategic partnerships with firms who share their global perspective and offer more than just single asset-class investment management,” Schlachter said in the statement.
Schlachter was a managing director at Wilshire, where he was a pension consultant and advised multinational corporations, state governments and federal agencies, Prudential said. He joined Wilshire in 1999 and previously worked as a financial analyst for Goldman Sachs.
“Wilshire has broad and deep resources and continues to provide clients with the excellent investment advice for which the firm is known,” Julia Bonafede, president of Wilshire Consulting, said in an e-mailed statement. “Michael was a dedicated member of the Wilshire Consulting team and his commitment to our clients and the firm was greatly appreciated.”
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Max Pulcini
Max Pulcini is a Philadelphia-based writer and reporter. He has an affinity for Philly sports teams, Super Smash Bros. and cured meats and cheeses. Max has written for Philadelphia-based publications such as Spirit News, Philadelphia City Paper, and Billy Penn, as well as national news outlets like The Daily Beast.
