Prudential Fixed Income will name Robert Cignarella co-head of Global Leveraged Finance, responsible for leading the leveraged investment management effort together with Paul Appleby, managing director and current head of Prudential Fixed Income's Leveraged Finance Team, the company announced today. The appointment is effective January 2014. The Global Leveraged Finance team includes the U.S. and European High Yield Bond and Bank Loan sector teams overseeing more than $33 billion in global leveraged finance. Prudential Fixed Income, among the largest fixed income managers in the United States, is an asset management business of Prudential Financial, Inc. (NYSE: PRU).
“Rob’s more than 20 years of experience and insight in leveraged finance will be a valuable addition in leading our investment management efforts” said Appleby.
Cignarella, who served as a managing director and co-head of high yield and bank loans at Goldman Sachs Asset Management, also held positions as high yield portfolio manager and high yield and investment grade credit analyst. Earlier, he was a financial analyst in the investment banking division of Salomon Brothers.
Cignarella earned an MBA from the University of Chicago in Chicago, Ill., and a bachelor’s degree in operations research, and industrial engineering from Cornell University College of Engineering in Ithaca, N.Y.Prudential Fixed Income, with $397 billion in assets under management as of September 30, 2013, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J.; London and Singapore. For more information, please visit http://www.prudentialfixedincome.com. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of September 30, 2013, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com.