Cresset, Prudential Announce New Chief People Officers

Cresset and Prudential Financial are making C-suite changes as both firms appoint new leaders to head up their talent development and workforce strategies.

Cresset announced Tuesday that it has appointed Melissa Karetny as executive managing director and chief people officer. An experienced HR veteran, Karetny joins the firm with more than 20 years of experience in human resources leadership, spanning financial services, retail, e-commerce, technology, and media.

Most recently, Karetny held a transition role at JPMorgan Chase, where she supported the integration of talent and HR processes following the Wall Street giant's 2023 acquisition of First Republic Bank. 

"I've had the pleasure of working with Melissa and know her as a trusted advisor, coach and counselor to leaders at all levels, as well as a strategic change agent and thoughtful communicator," Susie Cranston, president and chief operating officer of Cresset said in a statement. "All of us at Cresset couldn't be more pleased to welcome her to the team."

Karetny, who is based in San Francisco, will serve as a member of Cresset’s management committee. The firm, which provides wealth management, investment advisory, and family office services, manages more than $65 billion in assets through its subsidiary, Cresset Asset Management. Earlier this month, Cresset announced a rebrand of its independent private investments business, Cresset Partners, which is making a fresh start as Peakline Partners.

Meanwhile, Prudential Financial has named Vicki Walia as chief people officer, effective March 31. She currently leads human resources for Prudential’s US businesses and PGIM, the firm’s global asset management arm.

"Vicki is an exceptional leader who deeply cares about our people," Andrew Sullivan, head of international businesses and global investment management at Prudential, said in a statement. "Her global experience and perspectives, combined with her knowledge of how talent and culture drive business outcomes, will be invaluable in empowering our workforce to capture opportunities at the intersection of insurance, asset management, and retirement."

Walia succeeds Lucien Alziari, who will retire after eight years as chief human resources officer. She originally joined Prudential as chief talent and capability officer and has held leadership roles at Moody’s Analytics and AllianceBernstein. She will be reporting to Sullivan, who is also set to become CEO in March.

Prudential, which had $1.5 trillion in assets under management as of December 31, operates in the US, Asia, Europe, and Latin America. In January, CFO Yanela Frias told Bloomberg the financial giant is poised to benefit in the coming years from several ongoing trends, including the rise of Peak 65 Americans, the booming demand in annuities, and the market for pension risk transfers.