Prudential Financial Inc. has promoted two people in its office of the chief investment officer, the Newark,N.J.,-based financial firm announced Wednesday.
Sara Bonesteel was appointed chief investment officer for retirement. She will be responsible for the overall investment strategy and portfolio management of Prudential’s retirement business, which has $371 billion in account values.
She joined Prudential in 2008 and most recently served as head of portfolio strategy in the CIO Group.
Alfred Lerman will replace Bonesteel as head of portfolio strategy in the CIO office. In this role, Lerman and his team are responsible for developing overall investment strategies for Prudential’s general account portfolio across all asset classes.
Lerman joined Prudential in 2008 and most recently served as a managing director and head of Investment Analytics & Policy Group in the CIO Office.