Prudential Securities Inc. has hired Dr. Ed Yardeni away from Deutsche Banc Alex Brown to act as its chief investment strategist effective April 22.

The announcement marks a homecoming for Yardeni, who left Prudential in 1991 after serving eight and a half years as the chief economist. In his new role, Yardeni will report directly to Steve Buell, director of Global Equity Research, and be responsible for developing the firm’s investment strategy, including asset allocations, and the development of specific portfolio strategy for the firm’s private and institutional clients.

Yardeni previously served as chief investment strategist and a managing director at Deutsche Banc Alex Brown. Prior to that, he served as chief economist for C.J. Lawrence and E.F. Hutton. He taught at Columbia University’s Graduate School of Business and was an economist with the Federal Reserve Bank of New York.

“Ed is a brilliant chief strategist and we look forward to him adding tremendous value to our investors,” said Buell. “His career accomplishments make him an ideal person to help lead our investor focused research.”