Pramerica Real Estate Investors has made several changes to its senior leadership team, including establishing a succession plan for its global chief operating officer, naming a leader for the newly formed global client services team and announcing a new head of its US business.

Pramerica, ranked among the world’s largest real estate investment management and advisory businesses, is a unit of Prudential Financial, Inc. (NYSE: PRU).

Global COO Dale Taysom has announced his intention to retire at the end of 2012. Eric Adler will succeed Taysom and work closely with him throughout 2012 to transition into the role while retaining his current role as head of the company’s London-headquartered European business. In his European role, Adler will be assisted by a newly formed European executive committee consisting of Andrew Radkiewicz, Jan-Baldem Mennicken, Phil Barrett, Gerhard Wittl and Raimondo Amabile. George von Werz’s responsibility for the non-European activities of Pramerica AG, Pramerica’s Munich-based business, remains unchanged.

“A test of any business is its capacity to manage change so it maintains its competitive position over time,” says J Allen Smith, Pramerica’s CEO.  “During his 34 years at the company, Dale has worked tirelessly on behalf of our clients and I will miss his partnership. We are heartened to have the depth of talent that enables us to handle his departure without disrupting the service our investors expect of our organisation."

In a newly created position that expands Pramerica’s efforts to provide the best possible client services, Dave Bradford has been named head of global client service, a role in which he will coordinate closely with the global marketing team led by Mark Chamieh and Les Lockwood. Through his 17-year tenure at the firm, Bradford has held several roles, including senior portfolio manager for PRISA, Pramerica’s flagship core US commingled open-ended fund, and head of non-US investment operations. Roger Pratt and Broderick Storie will work together to manage Bradford’s previous responsibilities as chief risk and investment officer, with Pratt covering the US and Latin America and Broderick Storie responsible for Europe and Asia.

Additionally, Kevin R Smith, who most recently served as senior portfolio manager of PRISA, will become head of the US business, effective immediately. Smith has been with Pramerica for 30 years in a number of portfolio and asset management roles. Cathy Marcus succeeds Kevin as senior portfolio manager of the core strategy. A 13-year veteran of Pramerica, Marcus has been a PRISA portfolio manager since 2004.

Finally, Terry McHugh, with 31 years of experience at Pramerica, has been appointed senior portfolio manager to replace Roger Pratt and lead PRISA II, the company’s value-added open-end commingled strategy. McHugh has been a longtime member of the PRISA II portfolio management team.