Portfolio Manager – European & Australian Securitized Products, Executive Director

PGIM Credit | Portfolio Manager – European & Australian Securitized Products, Executive Director

As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers!

If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.

What you will do

We are seeking an experienced Portfolio Manager to join our Securitized Products group in London, with responsibility for investing in non-US securitized assets denominated in EUR, GBP and AUD. The successful candidate will be fully integrated within the global Securitized Products team and manage these investments within portfolios across European and Australian RMBS, ABS and CMBS on behalf of all third party and proprietary portfolios. CLO experience is a plus, but not a requirement.

This is a senior, market-facing role. The Portfolio Manager will partner closely with the US-based sector portfolio managers, the Securitized Products research teams in London and the US, and the firm’s macroeconomic research professionals. The individual will serve as a primary point of contact in the London market for dealers, issuers, arrangers and other counterparties.

What you can expect

• Actively manage and construct portfolios of EUR, GBP and AUD securitized assets across RMBS, consumer and commercial ABS and CMBS.
• Responsibility for sub-sector “sleeve” asset allocation, security selection, position sizing, capital structure positioning and trade execution within assigned risk budgets and client guidelines.
• Generate and articulate relative value trade ideas across sectors, currencies, and capital structure, including cross-market comparisons against US securitized and corporate credit.
• Source opportunities through buy-side and sell-side networks and direct-to-issuer relationships and use scale to negotiate favourable terms as an anchor investor.
• Ensure compliance with applicable regulatory regimes, including UK/EU securitisation risk retention and due diligence requirements (Article 5/7), STS eligibility, and client-specific capital constraints.
• Partner with the Securitized Products research team on ongoing surveillance of collateral performance, internal ratings and event-driven review of positions.
• Actively contribute to the weekly desk head meetings and relative value forums that set investment strategy across the global Securitized Products platform.
• Represent our Securitized Products capabilities with clients, consultants and prospects, contributing to portfolio reviews, RFPs, market commentary and conference participation.
• Carry our team culture of high intellectual honesty and mutual respect with colleagues while always acting ethically, with conviction and great humility for the benefit of our clients.
• As a senior leader, mentor and develop junior investment professionals in London.

What you will bring

• BA/BS degree required; MBA, MS and/or CFA are preferred.
• Significant years of investment experience in securitized products at an asset manager, insurance company, bank or hedge fund, with a demonstrable track record of portfolio management or risk-taking.
• Deep expertise across European securitized markets (UK, Dutch, Irish, Spanish, Italian and pan-European RMBS/ABS/CMBS) with direct experience in AUD-denominated securitizations strongly preferred.
• Command of UK and EU securitisation regulation, Solvency II / Solvency UK treatment, and the ability to navigate insurance capital, accounting and rating considerations across jurisdictions.
• Established relationships across dealers, issuers, originators, servicers and arrangers in Europe and Australia.
• Ability to review and interpret legal documentation, including offering circulars, servicing agreements and intercreditor arrangements.
• Excellent written and verbal communication skills, with the ability to present investment recommendations to investment committees, clients and consultants.
• Highly organised, detail-oriented and able to manage multiple priorities across time zones in a collaborative, globally integrated team.

What will set you apart?

• Candidates who have completed internships and/or have some work experience in a Finance industry role will be viewed favorably.
• Candidates with Economics, Accounting, Finance or Business degrees would be viewed favorably.

What we offer you

• Private Medical Insurance: PGIM offers private medical insurance and pays the full premium on behalf of all employees.
• Annual Leave of 25 to 28 days, based on years of service, at full pay.
• Retirement Savings Plan: Employees receive a company contribution of 10% basic annual salary and a maximum employer-matching contribution of 5% of basic annual salary.
• Life Assurance & Income Protection: Life Assurance for 8 times your basic annual salary, up to a max benefit of £1.8million. 60% of your basic annual salary for a limited payment terms of 5 years, at the end of which a capital sum of 2x your basic annual salary is payable.

Pay Transparency

The salary range for this position is competitive and based on experience.