Eric Adler was appointed new Chief Executive Officer of Prudential Financial Inc. This was after holding a post as the company's chief investment officer. Adler replaced Allen Smith, who was hired to become Four Seasons Hotels and Resorts' CEO.  This was according to a statement released today by Prudential Financial. Adler's promotion made him to oversee about USD53 billion in assets in Prudential Financial Inc, the second largest life insurer in the US.

The Newark, New Jersey-based firm invests in real estate assets to back insurance policies and generate fee income. Prudential has also hired several dealmakers to expand in Asia and Latin America.

According to David Hunt, CEO of Prudential Investment Management, the appointment of Eric Adler brings a fresh view to the company. Adler is known for his broad knowledge in global real estate that will help strengthen the current client relationships in Prudential outside the US market, he added.

Adler also worked for Morgan Stanley and Tishman Speyer Properties LP.