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PARSIPPANY, N.J.--([ BUSINESS WIRE ])--Prudential Real Estate Investors today announced several changes to its senior leadership team, including establishing a succession plan for its global chief operating officer, naming a leader for the newly formed global client services team and announcing a new head of its U.S. business. PREI, ranked among the worldas largest real estate investment management and advisory businesses, is a unit of Prudential Financial, Inc. (NYSE: PRU).

"A test of any business is its capacity to manage change so it maintains its competitive position over time"

Global COO Dale Taysom has announced his intention to retire at the end of 2012. Eric Adler will succeed Taysom and work closely with him throughout 2012 to transition into the role while retaining his current role as head of PREIas European business, Pramerica Real Estate Investors. In his European role, Adler will be assisted by a newly formed European executive committee consisting of Andrew Radkiewicz, Jan-Baldem Mennicken, Phil Barrett, Gerhard Wittl and Raimondo Amabile. George von Werzas responsibility for the non-European activities of Pramerica AG, PREIas Munich-based business, remains unchanged.

aA test of any business is its capacity to manage change so it maintains its competitive position over time,a said J. Allen Smith, PREI's CEO. aDuring his 34 years at PREI, Dale has worked tirelessly on behalf of our clients and I will miss his partnership. We are heartened to have the depth of talent that enables us to handle his departure without disrupting the service our investors expect of our organization."

In a newly created position that expands PREIas efforts to provide the best possible client services, Dave Bradford has been named head of global client service, a role in which he will coordinate closely with the global marketing team led by Mark Chamieh and Les Lockwood. Through his 17-year tenure at PREI, Bradford has held several roles, including senior portfolio manager for PRISA, PREIas flagship core commingled open-ended fund, and head of non-U.S. investment operations. Roger Pratt and Broderick Storie will work together to manage Bradfordas previous responsibilities as chief risk and investment officer, with Pratt covering the U.S. and Latin America and Broderick Storie responsible for Europe and Asia.

Additionally, Kevin R. Smith, who most recently served as senior portfolio manager of PRISA, will become head of the U.S. business, effective immediately. Smith has been with PREI for 30 years in a number of portfolio and asset management roles. Cathy Marcus succeeds Kevin as senior portfolio manager of the core strategy. A 13-year veteran of PREI, Marcus has been a portfolio manager for PREIas core strategy since 2004.

Finally, Terry McHugh, with 31 years of experience at PREI, has been appointed senior portfolio manager to replace Roger Pratt and lead PRISA II, the companyas U.S. value-added open-end commingled strategy. McHugh has been a longtime member of the PRISA II portfolio management team.

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 Parsippany, N.J., PREI also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Lisbon, London, Luxembourg, Madrid, Munich, Paris, Abu Dhabi, Istanbul, Mexico City, Rio de Janeiro, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo. In addition, the company has representatives in Milan and is establishing a presence in Sydney (pending regulatory approval). As of September 30, 2011, the company managed approximately US$48.6 billion in gross real estate assets ($30.3 billion net) on behalf of more than 490 clients worldwide. For more information, visit [ http://www.prei.com ].

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentialas 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, investment management, and real estate services. In the U.S., Prudentialas 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/ ]