Appleson is taking over from the long-time municipal bonds head Susan Courtney, who is retiring. He will begin 1 November and take over Courtney’s position effective 1 January.

Most recently, Appleson was a portfolio manager for PT Asset Management, specifically its Performance Trust Municipal Bond Fund. Before this role, he worked as a credit risk associate at the Federal Reserve Bank of New York and at Alliance Bernstein as an analyst.

Richard Greenwood, head of credit, PGIM Fixed Income: “Jason brings strong capabilities in municipal bond portfolio management and relative value analysis, as well as proven investment leadership to our municipal bond team. With continued strong flows into the municipal category, Jason’s expertise will prove immediately valuable to our clients who look to municipal bonds as a key part of their fixed income portfolio.”