Listen to this articlePrudential Financial Inc. appointed Matthew Armas as senior vice president and chief investment officer, effective March 12, 2026.
Armas will succeed Timothy Schmidt, who will retire in 2026 after 16 years with the firm, according to a Dec. 3 announcement from the Newark-based financial institution. Schmidt will serve as an advisor through Aug. 31.
Armas brings more than two decades of experience in insurance-focused investing, including leadership in fixed income, private credit and infrastructure, according to Prudential. He will join Prudential after nearly 22 years with Goldman Sachs Asset Management. Most recently, he served as global head of insurance, according to his LinkedIn profile.
In that position, Armas led the firm’s insurance client strategy across public and private markets. In his work, he partnered with global insurers to design investment portfolios aligned with long-dated liabilities and evolving capital frameworks, his hiring announcement noted.
Armas also was an investment research analyst at GE Asset Management and served for more than five years as a lieutenant in the U.S. Navy.
‘Strong foundation’
“Matt’s deep insurance and investment expertise puts him in a strong position to help shape our evolving investment strategy and ensure we fulfill the promises we make to our customers,” said Prudential CEO Andrew Sullivan.
Sullivan also thanked Schmidt “for the legacy of strength he leaves in place for Matt and our General Account.”
Armas added that he looks forward to “building on the strong foundation Tim and the team have created.”
“Prudential has a long-standing commitment to disciplined investing and clarity of purpose in solving the financial challenges of our changing world,” Armas added.
Armas earned his bachelor’s in systems engineering from the U.S. Naval Academy and his MBA from the University of Washington, according to LinkedIn.
Prudential is a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of Sept. 30, 2025.
