Prudential Names Mexico Real Estate Chief in Latin America Push

Jan 16, 2014 1:55 pm ET

Jan. 16 (Bloomberg) -- Prudential Financial Inc., the second-largest U.S. life insurer, hired Ezequiel Rodriguez to run real-estate operations in Mexico as the firm bolsters its presence in Latin America.

Rodriguez, 41, is based in Mexico City and reports to Alfonso Munk, head of Latin America at Prudential Real Estate Investors, the Newark, New Jersey-based insurer said today in a statement. He was a managing director at GIV Partners AG and UBS AG, and worked in Europe and Latin America, Prudential said.

Rodriguez’s background “will be particularly helpful as we seek additional opportunities in Mexico and continue to grow the business in the country,” Munk said in the statement.

Prudential is expanding in real estate to build fee income and back insurance polices. Its property firm manages $2.7 billion in assets in Latin America, according to the statement. The unit hired Morgan Stanley’s Adriana Drulla Rossi in Brazil a year ago, and added Munk from the same company in 2012.

Economic growth in Latin America is projected to quicken to 2.9 percent this year and 3.3 percent in 2015, from 2.4 percent in 2013, according economists’ forecasts compiled by Bloomberg.

Rodriguez has a degree in business administration from the University of Buenos Aires.

--Editors: Dan Reichl, Dan Kraut