QMA LLC, the quantitative equity and multi-asset solutions specialist of PGIM, the $1.5 trillion global investment management business of Prudential Financial Inc., has hired David Blanchett as managing director, head of retirement research for defined contribution (DC) solutions. Blanchett was formerly head of retirement research at Morningstar Investment Management.
QMA says Blanchett will help meet a growing demand for DC solution capabilities.
“Income solutions are going to be the next thing that will come to dominate the marketplace,” QMA Chief Executive Officer Andrew Dyson tells PLANADVISER. Blanchett’s hiring “reflects QMA’s vision for our role in the future of retirement income. Products will need to be founded on great research, and David will be at the forefront of that. Over the next 10 years, income solutions will come to dominate the DC marketplace. David is a recognized retirement thought leader, and his experience will be invaluable for the future. We are thrilled to have him join QMA.”
PGIM CEO David Hunt points out that PGIM manages $214 billion of DC assets across multiple asset classes. “We are committed to providing best-in-class support to our clients and in delivering new and innovative retirement solutions founded on market-leading research,” he adds.
Blanchett says, “I am incredibly excited to join QMA given PGIM’s position as a leader in the retirement space. I look forward to working alongside some of the brightest minds in the industry to develop new proprietary investment solutions to improve retirement outcomes for potentially millions of investors and DC participants.”
An adjunct professor of wealth management at The American College of Financial Services and a former member of the ERISA [Employee Retirement Income Security Act] Council, Blanchett has published more than 100 papers in a variety of industry and academic journals. His research has received a number of awards, and he is also a regular contributor to The Wall Street Journal.