Jess Jarratt has been named the new president of Prudential Agricultural Investments, succeeding Charles Allison, who has retired after 24 years with the company. PAI is the $3.9 billion agricultural debt and equity business of Prudential Mortgage Capital Company, which is one of the largest commercial mortgage businesses in the United States and a business of Prudential Financial, Inc..
In addition, the business announced it has hired Matt Ciaschini, naming him to the new role of chief investment officer-agricultural equity. Jarratt and Ciaschini join the company and a leadership team that includes Ray Smith, senior vice president overseeing agricultural lending as it seeks to expand to meet increased investor demand for agricultural debt and equity related investments. PAI invests on behalf of Prudential s General Account and third party investors.
The appointments are effective immediately, with Jarratt reporting to Paige Hood, managing director and portfolio manager of Prudential s General Account commercial mortgage portfolio. Ciaschini and Smith will report to Jarratt.
Jess and Matt bring important leadership and asset management skills that round out our leadership team and complement Ray s debt expertise, said David Durning, CEO of Prudential Mortgage Capital Company. Chuck played a key role in building Prudential Ag into a distinctive business and we wish him all the best. I m confident that Jess will help to build on Chuck s success and expand the business into new directions.
Before joining Prudential, Jarratt was president of Wells Real Asset Management Company and director of Wells Timberland REIT. Previously, Jarratt was at SunTrust Robinson Humphrey, where he filled various roles involving structured real estate investing, capital markets and banking. Earlier in his career, he specialized in agribusiness finance for Rabobank and Timberland, investing for John Hancock. Jarratt earned a bachelor s degree in forestry from Texas A&M University and an MBA in finance from the University of North Texas.
Ciaschini most recently served as vice president and a portfolio manager at Harvard Management Company, where he oversaw investments in a $700 million international agricultural investment portfolio. Previously he consulted with various agribusiness companies as well as serving as the vice president of operations for Silverado Premium Properties, the second largest vineyard investor and operator in California. Ciaschini earned his bachelor s degree in Mathematics from the University of Massachusetts and a master s degree in Mathematics from the University of Michigan Ann Arbor. He also earned an MBA from the University of California, Davis.