David Blanchett, Morningstar’s former Director of Retirement Research, has moved on to a Prudential unit.
QMA, the quantitative equity and multi-asset solutions specialist of PGIM, the $1.5 trillion global investment management business of Prudential Financial, announced June 7 that it has hired Blanchett as managing director and head of retirement research.
At Morningstar Investment Management LLC, Blanchett was most recently head of retirement research and published over 100 papers in a variety of industry and academic journals. Prior to joining Morningstar, he was the Director of Consulting and Investment Research for the Retirement Plan Consulting Group at Unified Trust.
QMA notes that it hired Blanchett to help meet growing demand for DC solution capabilities. “Over the next 10 years, income solutions will come to dominate the DC marketplace. David is a recognized retirement thought leader and his experience will be invaluable as we position ourselves for the future,” QMA’s CEO Andrew Dyson said in a statement.
“I am incredibly excited to join QMA given PGIM’s position as a leader in the retirement space,” Blanchett stated. “I look forward to working alongside some of the brightest minds in the industry to develop new proprietary investment solutions to improve retirement outcomes for potentially millions of investors and DC participants.”
Blanchett is an adjunct professor of wealth management at The American College of Financial Services and was formerly a member of the ERISA Advisory Council.
He holds a bachelor’s degree in Finance and Economics from the University of Kentucky, a master’s degree in financial services from The American College of Financial Services, a master’s degree in business administration from the University of Chicago Booth School of Business, and a doctorate in personal financial planning program from Texas Tech University.
As of March 31, 2021, QMA had $119 billion in AUM. The firm also manages the allocation of assets that underlie the glidepath to the Prudential Day One Funds, launched in 2016, which currently has $5.5 billion in AUM as of April 30, 2021.