Prudential Financial Inc. (PRU), the second-largest U.S. life insurer, said Michael Gallagher will help manage its European real estate securities as the firm builds operations outside the U.S.
Gallagher, named a director and portfolio manager, will help run the Prudential Global Real Estate Fund, the Newark, New Jersey-based insurer said today in a statement. He joined the company last year from Aviva Plc (AV/) as an associate portfolio manager for European real estate securities. John Chartier, a Prudential spokesman, declined to comment.
Prudential has been adding staff to bolster real estate operations in Asia, Europe and Latin America. It managed about $36 billion in net real estate assets as of Dec. 31, according to the statement.
“Michael has extensive experience working for a number of institutions in European real estate securities and knows that market extremely well,” Marc Halle, managing director and senior portfolio manager, said in a telephone interview. “There are definitely opportunities in Europe.”
To contact the editor responsible for this story: Dan Kraut at firstname.lastname@example.org