Pramerica Investment Management is to change its name to PGIM from the new year.
The investment management arm of insurer Prudential Financial will complete the move in mid-2016 when Pramerica Real Estate Investors and Pricoa Mortgage Capital adopt the names PGIM Real Estate and PGIM Real Estate Finance respectively.
Along with the change of name Prudential will launch a UCITS business for the UK and Europe under the name of PGIM Funds.
The changes of name are part of an expansion programme by the company that will see it enter new markets and explore different investment products.
In addition PGIM will be moving to a new 20-floor headquarters building in Newark, New Jersey.
