Market Overview

QMA global investment teams expand with Lorne Johnson, Patrick McDonough


QMA continues to expand its investment platform with the addition of two
new client portfolio managers, responsible for portfolio analysis and
research for its Global Multi-Asset Solutions and Quantitative Equity
teams. QMA is the quantitative equity and global multi-asset solutions
business of PGIM,
the $1 trillion global investment management business of Prudential
Financial, Inc. (NYSE:

recently added Lorne Johnson, Ph.D., a managing director and client
portfolio manager, to the Global Multi-Asset Solutions team, and Patrick
McDonough, a principal and client portfolio manager, to the Quantitative
Equity team.

McDonough reports to George Patterson, who joined a year ago to co-lead
QMA's unified Global Equity Platform which combines the company's U.S.
Value, U.S. Core and Non-U.S. Core investment strategies. Johnson
reports to George Sakoulis, who leads the Global Multi-Asset Solutions
group formed earlier this year, creating a 26-member team.

Together, the platforms are designed to allow QMA to refine and
customize products in response to the needs of its global client base,
consistent with its long-term, research-led investment philosophy.

"We continue to grow our investment platform with the hires of Patrick
and Lorne," said Andrew
, chairman and CEO of QMA. "Their deep backgrounds in
investment management add to the existing team's capabilities, further
broadening the range of both equity and multi-asset strategies we offer
according to each client's unique needs."

Both have joined QMA from State Street Global Advisors, where McDonough
served as a global portfolio strategist and Johnson as a senior
portfolio manager.

Johnson was previously a portfolio manager at CalPERS and Numeric
Investors, as well as a senior portfolio manager at ABP Investments and
an economist at Caxton Associates. He earned a B.A. in public
administration and history at California State University, and an M.A.
in applied economics at San Jose State University. He earned master's
and doctorate degrees in economics at the University of Washington.

McDonough previously spent a decade at Goldman Sachs, first as a
researcher in the Quantitative Investment Strategies team and then as
co-head of systematic strategies for Goldman Sachs' Asset Management's
Alternative Investments and Manager Solutions Group, providing solutions
for the company's office of the chief investment officer and high net
worth clients. Earlier, he was a quantitative portfolio manager and
researcher for the multi-asset solutions team at AllianceBernstein. He
earned a bachelor's degree in history and economics at College of the
Holy Cross.

About QMA

QMA applies a disciplined, research-driven approach that seeks to
identify and capture alpha opportunities and combines factor exposures
to create diversified, risk-aware strategies designed for long-term,
consistent performance.

Founded in 1975, QMA manages portfolios for a worldwide institutional
client base, including corporate and public pension plans, endowments
and foundations, multi-employer pension plans, and sub-advisory accounts
for other financial services companies. As of June 30, 2018, QMA had
approximately $127 billion in assets under management.

About PGIM and Prudential Financial, Inc.

With 15 consecutive years of positive third-party institutional net
flows, PGIM,
the global asset management businesses of Prudential Financial, Inc. (NYSE:
), ranks among the top 10 largest asset managers in the world
with more than $1 trillion in assets under management as of March 31,
2018. PGIM's businesses offer a range of investment solutions for retail
and institutional investors around the world across a broad range of
asset classes, including fundamental equity, quantitative equity, public
fixed income, private fixed income, real estate and commercial
mortgages. Its businesses have offices in 16 countries across five
continents. For more information, please visit

Prudential's additional businesses offer a variety of products and
services, including life insurance, annuities and retirement-related
services. For more information about Prudential, please visit

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