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Press release from Business Wire

PREI® names new heads of Europe business, chief risk officer

Wednesday, January 23, 2013

PREI® names new heads of Europe business, chief risk officer11:54 EST Wednesday, January 23, 2013 MADISON, N.J. (Business Wire) -- Prudential Real Estate Investors has named Raimondo Amabile and Andrew Radkiewicz as co-heads of its European business and appointed Philip Barrett chief risk officer for Europe and Asia, the business announced today. PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU). The promotions follow the 2012 announcement that Eric Adler, who recently became the firm's global chief investment officer, would oversee PREI's global investment and risk management processes. “These changes maintain a high level of leadership in Europe and expand our ability to find the right opportunities for our clients and manage risk in an ever-changing global economy,” said Allen Smith, CEO of PREI. “Raimondo and Andrew are both exceptional leaders, bringing deep knowledge of the real estate markets in Europe, spanning the full spectrum of debt and equity real estate investing.” Amabile joined PREI in January 2012 and has been responsible for managing the offices and investments in continental Europe. Radkiewicz, a managing director with PREI since January 2009, he been co-head of the European Real Estate Finance Group, an area of the business which will continue to be his primary focus. In their new roles, both are members of PREI's Global Management Committee and will lead the European Executive Committee. “Raimondo and Andrew have distinct, but complementary styles,” commented Eric Adler, adding the former has already begun to add talent to Pramerica's German team by bringing on Sebastiano Ferrante as new head of the German business. “Meanwhile, Andrew's leadership and vision have helped build an outstanding debt platform and his promotion into this lead role is directly attributable to the increased importance of the debt business to our clients.” In addition Philip Barrett will step into the role of chief risk and investment officer for Europe and Asia in March after the anticipated departure of incumbent Broderick Storie. Barrett, who joined PREI in 1999, has been a managing director in the firm's European real estate investment platform. A search is underway for his replacement. PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Lisbon, London, Luxembourg, Munich, Paris, Abu Dhabi, Istanbul, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo. In addition, the company has representatives in Milan and is establishing a presence in Sydney, pending regulatory approval. PREI has gross assets under management of USD $51.2 ($34.6 billion net), as of September 30, 2012. For more information, visit http://www.prei.com. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $1.005 trillion of assets under management as of September 30, 2012, 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/ PrudentialTheresa Miller, 973-802-7455theresa.miller@prudential.com