PPM America, which provides investment services to Prudential affiliates and clients, has hired Anthony Balestrieri as senior managing director and portfolio manager in the firm's public fixed-income and portfolio management group.

Balestrieri will manage Prudential's life fund, which consists of approximately $15 billion in assets. Before accepting the new position, Balestrieri worked for Merrill Lynch Investment Managers, managing $16 billion in institutional fixed-income assets.

Balestrieri's career has spanned 17 years and has included positions at Mitchell Hutchins, Bankers Trust and Metropolitan Life.

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