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.