NEWARK, NJ – Prudential Mortgage Capital Co. reports it has promoted Hal Collett to president of Prudential Asset Resources, which services the firm’s nearly $70-billion commercial real estate loan portfolio.

Collett replaces Catherine Rodewald, who announced she is retiring at the end of 2012. He will be responsible for heading Prudential Asset Resources, which services and manages the assets of Prudential Mortgage Capital’s $69.4-billion commercial portfolio (as of Sept. 30, 2012).

“We are excited to have an executive with the breadth and depth of Hal’s experience to lead Prudential Asset Resources,” says David Twardock, president of Prudential Mortgage Capital. “Our clients can expect the same superior quality service they have come to expect from Prudential under Hal’s capable leadership.”

Currently in his 10^th year at Prudential, Collett has previously served in a number of roles at Prudential Asset Resources, most recently as vice president of asset management and credit surveillance. In his new position, Collett will work out of the company’s Dallas office and will report to Twardock.

Prior to joining Prudential, Collett was manager of investor reporting at ORIX Capital Markets where he also served as a special servicer asset manager. He began his commercial real estate career at Bank One, followed by five years at the international investment banking and securities firm Nomura.

At year’s end, Rodewald will close the door on an 11-year career at Prudential. During her tenure, she earned numerous awards including the 2009 Athena Award presented by the Dallas Regional Chamber of Commerce and the Mortgage Bankers’ Association’s 2011 Distinguished Service Award. Previously, she served as the first chief information officer for Hunt Consolidated, Inc., a privately held, international organization with holdings in oil, gas, utilities, real estate and financial services, and earlier was the senior vice president and chief information officer for the international real estate and financial services firm AMRESCO, Inc.

Prudential Mortgage Capital has $72.67 billion in assets under management and administration as of September 30, 2012 and is the commercial lending business of Prudential Financial, Inc., which has approximately $1.005 trillion of assets under management. The company has operations in the United States, Asia, Europe, and Latin America.