Investment manager PPM America Inc has appointed Mark Mandich as its new CEO and Jim Young as company president. Previously, Mandich was chief operating officer at PPMA while Young was chief investment officer at the firm.
CHICAGO–(BUSINESS WIRE)–PPM America, Inc. (PPMA) has named Mark Mandich its new chief executive officer (CEO) and Jim Young as company president. PPMA is an affiliate and investment services provider for Jackson National Life Insurance® (Jackson®) and a variety of other institutional mandates and retail products. Prior to these appointments, Mandich served as chief operating officer (COO), and Young served as chief investment officer (CIO), a role he will retain going forward.
Both positions were previously held by Leandra Knes, who has decided to continue in a strategic role as chairman of PPMA. Knes will oversee management of PPMA’s Private Equity Team and will also continue as executive-in-charge of the Jackson Advisory Group (JAG). JAG is an oversight structure focused on optimizing the design, activities and management of Jackson’s three affiliated North American US investment advisory businesses, PPMA, Jackson National Asset Management, LLC (JNAM) and Curian Capital, LLC (Curian), which manage more than $300 billion and employ approximately 660 professionals.
“Nothing gives me greater pride and confidence than knowing our organization has Mark and Jim guiding it into its next era,” Knes said. “Their hard work, team-driven approach, vision and leadership have been and will continue to be invaluable to me and the overall firm.”
As CEO, Mandich will be responsible for the day-to-day operations of PPMA. He will also maintain his current positions as deputy executive-in-charge of JAG and interim chief executive officer and president of Curian Capital, LLC. In his previous role, he was responsible for all areas of business operations, including accounting and finance, portfolio services, business development, human resources, information technology and legal and compliance.
Mandich joined PPMA 22 years ago from Arthur Andersen & Company, where he spent nine years providing audit and financial consulting services exclusively to financial services industry clients. He began his career at the brokerage firm A.G. Becker. Mandich earned a bachelor’s degree in accounting from Valparaiso University and holds the Certified Public Accountant (CPA) designation.
“I’m incredibly proud of the great leadership team we’ve developed to meet the changing needs of our clients, while leveraging the scale and capabilities of our entire investment advisory business,” Mandich said. “PPMA is known for a distinct investment culture and vision and I look forward to building on its success.”
As president, Young will be responsible for all investment functions at PPMA. Prior to being named CIO in 2008, he served as PPMA’s chief credit officer. He also previously served as a senior managing director and head of the Traditional Private Placements Team, a group he helped form. Young joined PPMA 18 years ago from Heller Financial, where he worked in both underwriting and syndication. He earned a bachelor’s degree in economics from Wittenberg University and an MBA in finance from Kellogg School of Management at Northwestern University.
“I look forward to helping Mark build on the success we achieved under Leandra’s leadership,” Young said. “PPMA has a clear mission, well-defined values and a deep bench of industry talent. We are in a great position to continue achieving strong results for our clients.”
About PPM America, Inc.
PPM America (PPMA) is an asset manager that provides investment services for a variety of institutional mandates and retail products sourced primarily from affiliates, including Jackson National Life Insurance® (Jackson®) as well as affiliates in the United Kingdom and Asia. PPMA’s expertise spans across a wide range of fixed-income and equity asset classes, with an emphasis on fundamental company and security research.
PPM America is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups. It has been in existence for over 160 years and has $773.3 billion in assets under management as of December 31, 2014. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.