Prudential Financial Inc. named Matt Armas CIO and senior vice president, effective March 12, 2026. He will succeed Tim Schmidt, who will retire after 16 years at the financial services firm, seven of those as CIO. Schmidt will stay on in an advisory role through August 31, 2026, to aid in the transition.
Armas is the current global co-head of insurance at Goldman Sachs Asset Management, where he has worked for more than 21 years. Armas also oversees portfolio construction for insurance clients with a focus on public and private investments. Before joining Goldman, he was an investment research analyst at GE Asset Management.
“Matt’s deep insurance and investment expertise put him in a strong position to help shape our evolving investment strategy,” Prudential Financial CEO Andrew Sullivan said in a statement.
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Tags: chief investment officer, Goldman Sachs Asset Management, investing insurance assets, Prudential Financial