Prudential Financial Inc., the United States’ second largest life insurance firm, has named David Durning president of its commercial mortgage business. Durning will replace David Twardock when he retires in April. Twardock had held the post since 1999.
The $73 billion investment firm is currently targeting the commercial real estate industry to boost investment income. In the past month, Hal Collet was promoted to president of Prudential Asset Resources to oversee commercial mortgage servicing.
Durning currently serves as a senior managing director and joined Prudential in 1988 as an investment analyst. He previously held positions at Shearson Lehman and Chemical Bank.
Durning earned his bachelor's degree from Middlebury College and an MBA from the Harvard Business School. He is a member of the Prudential Investment Management Investment Committee and serves on the Executive Board of the National Multifamily Housing Council.