June 24 (Reuters) - PGIM, the investment management arm

of insurer Prudential Financial ( PRU ), will combine its fixed

income and private credit units to create a nearly $1 trillion

credit platform, a company spokesperson said on Tuesday.

The combined credit unit will be led by John Vibert, who was

overseeing the fixed income business. Matt Douglass will remain

the head of private credit and report to Vibert.

The changes are part of an overhaul the company has

undertaken under CEO Jacques Chappuis to stay competitive in a

rapidly evolving sector, as growing preference for comprehensive

investment strategies fuels market share gains for larger asset

managers.

Bloomberg News was first to report PGIM's organizational

changes.

The company is also bringing together its multi-asset and

quantitative solutions capabilities. Phil Waldeck, who was

overseeing the firm's multi-asset business, will lead the new

combined unit.

PGIM has $1.39 trillion of total assets under management,

according to its website.

(Reporting by Prakhar Srivastava in Bengaluru and Saeed Azhar

in New York; Editing by Devika Syamnath)