PREI® adds Michael Gallagher as portfolio manager on REITS strategies
MADISON, N.J.--(BUSINESS WIRE)-- Prudential Real Estate Investors has added Michael Gallagher as a director and portfolio manager to its global real estate securities team, the company announced today. He has also been added as a manager on the Prudential Global Real Estate Fund (Class A: PURAX). PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYS: PRU) .
Gallagher, who joined PREI in September, 2012 as an associate portfolio manager for European real estate securities, will now be responsible for all aspects of portfolio management for the fund's European securities. He has also been added as a portfolio manager for the Prudential International Real Estate Fund (Class A: PUEAX) and the Prudential U.S. Real Estate Fund (Class A: PJEAX).
"Michael has exhibited a tireless dedication to the team and an excellent knowledge and skill in the European securities market," said Marc Halle, managing director and senior portfolio manager for all global real estate securities.
Gallagher has more than 13 years of experience working in the public securities market. Prior to joining Prudential, he was the assistant fund manager for global real estate securities at Aviva Investors in London. He was also a vice president at Citigroup in London and a pan European equity analyst at Deutsche Bank. He holds a bachelor's degree from Harvard University and a master's degree from Cornell University.
In addition to Gallagher, PREI also promoted Rick Romano to managing director for the global real estate securities team where he is responsible for security selection, portfolio strategy and portfolio construction in North America.
"Rick has earned this promotion through his deep commitment to both the team and our investment philosophy," Halle said. "He has consistently demonstrated his investment acumen and ability to lead."
Romano, who joined PREI in 1998, helped form the global real estate securities team in 2005. Prior to joining Prudential, Romano was an equity analyst for Rockefeller and Company, an investment management firm for the Rockefeller family and other high net worth clients. Romano was also a senior investment analyst at the Prudential Realty Group where he worked on the valuation, asset management and portfolio management of a $1billion equity hotel portfolio.
He earned a bachelor's degree from Rutgers University and an MBA in Finance from New York University's Stern School of Business.
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., PREI has other offices in Atlanta, Chicago, Miami, New York, San Francisco, London, Lisbon, Luxembourg, Munich, Frankfurt, Paris, Istanbul, Abu Dhabi, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo. In addition, PREI has representatives in Milan and is establishing a presence in Sydney (pending regulatory approval). As of December 31, 2012, PREI managed approximately $52.2 billion in gross real estate assets ($36 billion net) on behalf of more than 490 clients worldwide. For more information, visit http://www.prei.com.
Prudential Financial, Inc. (NYS: PRU) , a financial services leader with approximately $1.061 trillion of assets under management as of March 31, 2013, 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/
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