PGIM Taps Yaqub Ahmed Head of DC Solutions

PGIM has appointed Yaqub “Qub” Ahmed head of Defined Contribution Solutions, placing a veteran retirement executive in charge of its strategy as asset managers compete to introduce broader investment choices into workplace plans.

Ahmed will oversee PGIM’s defined contribution business across institutional and wealth channels, coordinating investment and advice capabilities for plan sponsors, consultants, financial advisers and participants. He will report to Stuart Parker, head of Global Wealth.

Ahmed joins from Franklin Templeton, where he most recently served as co-head of U.S. Retirement, Insurance Sub-Advisory and 529 College Savings. He spent approximately 17 years at the firm and previously held leadership positions at Columbia Management and Trustar Retirement Services.

“Qub brings deep expertise across the retirement landscape and a strong track record of building innovative solutions,” Parker said.

PGIM, Prudential Financial’s $1.5 trillion asset-management business, oversees more than $190 billion in defined contribution assets. Its private real estate group established a defined contribution practice in 2006 and now manages approximately $5.2 billion in DC real estate assets.

The appointment comes as the $13.8 trillion U.S. defined contribution market evaluates retirement-income products, managed accounts and private-market exposure.

“The DC market is entering a period of meaningful evolution,” Ahmed said, citing demand for retirement income, alternatives and personalized outcomes.

Pictured: Yaqub Ahmed, Head of DC Solutions, PGIM