Local PGIM executive in sudden departure

After just three months, the head of PGIM's Australia client group suddenly left the firm.

PGIM confirmed today that Murray Brewer - who spent more than 14 years with T. Rowe Price - has departed the US$1.2 trillion investment manager.

It is understood that PGIM is searching for a replacement.

Brewer landed at PGIM in March as head of its institutional relationship group for Australia and New Zealand.

He replaced Cameron Sinclair, who spent five years in the role before founding wealth management platform tWC Investment Management.

In a role that placed an even greater emphasis on institutional relationships, Brewer was tasked with expanding the firm's institutional client base.

He led a client-facing team that partners with chief investment officers of major institutions and senior fiduciary decision-makers.

Specifically, his job involved working closely with all PGIM business to bring its full suite of capabilities to investors - from fixed income, equity, quantitative investing and real estate to alternatives.

PGIM's Australian team has grown to include 24 employees.

Brewer is now a full-time director at Proteus Growth Partnering, a company associated with his family interests.

He joined PGIM from Capital Group, where he did a seven-month stint as country head of Australia.

Before that, Brewer served as country head of distribution for Australia and New Zealand at T. Rowe Price and for almost five years as head of distribution for Australia at Schroders Investment Management.

He started his financial services career as a business development manager with Westpac.