Prudential Hires BlackRock’s Vibert for Structured Finance

May 27, 2014 4:29 pm ET

(Updates to show that Vibert will report to Lillard in the fifth paragraph.)

May 27 (Bloomberg) -- Prudential Financial Inc., the second-largest U.S. life insurer, hired John Vibert from BlackRock Inc. to help run the structured finance team.

Vibert will be co-leader with Richard Rogers and join Prudential Fixed Income in August, the unit of the Newark, New Jersey-based insurer said today in a statement. He was most recently a lead manager for mortgage credit portfolios at BlackRock, the world’s biggest money manager, and traded non- agency residential mortgage-backed securities, the insurer said.

“John’s deep experience in securitized markets, as well as his ability to identify value, brings leadership and depth to our structured products team,” James Sullivan, head of Prudential Fixed Income, said in the statement.

Prudential has been turning to Wall Street as the insurer bolsters a fixed income business that managed $418 billion as of March 31, compared with $348 billion at the middle of 2012. The company in February announced the hire of former Morgan Stanley strategist Gregory Peters as a senior portfolio manager and in November announced the appointment of Goldman Sachs Group Inc.’s Robert Cignarella as co-head of global leveraged finance.

Vibert will report to Mike Lillard, the chief investment officer of Prudential Fixed Income, and be based in Newark, Theresa Miller, a spokeswoman for the business, said in a phone interview. The operation oversees about $44 billion in structured products, she said.

Morgan Stanley

Vibert was a managing director at Credit Suisse Group AG before joining BlackRock, according to the statement. He previously worked at Morgan Stanley and Salomon Brothers and received a bachelor of science degree in engineering from Cornell University in 1993, according to the statement.

BlackRock had no comment beyond confirming Vibert’s departure, said Lauren Post, a spokeswoman for the New York- based company.