This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Prudential Fixed Income Announces New Heads Of U.S. CLO Business Unit

Stocks in this article: PRU

Prudential Fixed Income announced that Brian Juliano and Bent Hoyer have been named as co-heads of its U.S. collateralized loan obligation business, succeeding Sara Bonesteel, who has moved into a lead role for Prudential’s U.S. General Account. Prudential Fixed Income is an investment business of Prudential Financial, Inc. (NYSE: PRU).

Bonesteel, a managing director and former head of alternative investments for Prudential Fixed Income—including its CLO business—has been appointed to head the portfolio strategy group for Prudential Financial’s U.S. Portfolio Management Team. Bonesteel’s team is responsible for developing overall investment strategies of the $178 billion U.S. General Account portfolio across all asset classes.

The appointments for Bonesteel, along with Juliano, a principal and portfolio manager, and Hoyer, a vice president, are effective immediately. In their new roles, Juliano and Hoyer are responsible for leading the development and administration of Prudential Fixed Income’s CLO business.

“Brian and Bent helped to build our CLO platform and have been part of a team that, under Sara’s leadership, has earned the esteem and trust of investors while establishing a record of new issue CLO and replacement manager transactions,” said Peter Cordrey, managing director and head of distribution and product management for Prudential Fixed Income. “Both bring deep experience that will enable us to continue to expand our CLO business in the U.S.”

Since entering the CLO business in 2000, Prudential Fixed Income has managed or sub-advised 42 cash or synthetic CLO/CDO vehicles from its Newark and London offices, including three CLOs issued under the Dryden brand in 2012. The firm manages more than $9.5 billion in CLO capital and is ranked by Standard & Poor’s as one of the world’s largest global CLO managers.

Juliano has helped to lead the U.S. CLO business since 2009 while working as a trader and portfolio manager for Prudential Fixed Income’s bank loan group. Earlier, he was a collateralized debt obligation analyst and member of the CDO business team, as well as a financial analysis manager in Prudential Fixed Income’s finance group, responsible for the finance function of various investment subsidiaries. In his new role, Hoyer is responsible for coordinating all portfolio administration functions across the CDO platform, including compliance, reporting and strategy. Previously, Hoyer was responsible for business and product support, operating risk management, client reporting and project management teams within Prudential Fixed Income.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs