The wait is over.
PGIM has finally filled the institutional client-facing position left vacant by Murray Brewer last August.
The US$1.2 trillion asset management business of Prudential Financial has chosen Chris Briant to be the new head of its institutional client group for Australia and New Zealand.
Briant replaces Brewer who departed after three months of leading a team that aimed to partner with investment heads at large institutions and fiduciaries.
Even though PGIM stressed that Australia remains a key part of its global growth strategy, the market grew antsy.
But now, investors know what's what.
Briant previously worked at Morgan Stanley Investment Management, joining its subsidiary Parametric Portfolio Associates as its first Australasian chief executive in 2013.
Before that, he held senior roles in business development at Russell Investments, BNP Paribas, and BT Portfolio Services.
He will report directly to Cameron Lochhead, the global head of IRG.
Lochhead said the appointment underlines the asset manager's long-term commitment to the Australian market, adding Briant could boast three decades of expertise in the Australasian investment industry.
"As an experienced leader, he has an impressive track record in growing businesses and strong relationships with sophisticated asset owners," he said.
"He will play a strategic role in expanding our institutional investor base in the region and architecting access to PGIM's full suite of affiliate strategies and solutions."
The firm cited its strong footprint in Australia supporting a growing network of institutional clients who seek diversified long-term investment solutions across traditional and alternative asset classes.
With a proven track record in private alternative investments, the firm has managed multibillion-dollar client mandates on the ground, including Australian real estate equity and debt strategies via PGIM Real Estate, and providing debt financing to domestic corporations through PGIM Private Capital.
Briant said he was "thrilled" to join PGIM when asset owners are rationalising their manager lineups to form fewer, deeper partnerships.
He views that trend as helpful for the US investment giant.
"I look forward to delivering our extensive capabilities to help asset owners solve their investment challenges and ultimately improve the retirement outcomes for Australasians."
The new executive started his new role on Monday.