Prudential Financial, Inc.

Sector: Life Insurance Region: NJ, United States

Exchange/Ticker: New York Stock Exchange: PHR | New York Stock Exchange: PFK | New York Stock Exchange: PJH | New York Stock Exchange: PRU

Company Description

Prudential Financial, Inc. provides financial services with operations in the United States, Asia, Europe and Latin America. The company, through its subsidiaries offers financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. It offers products and services to individual and institutional customers through proprietary and third party distribution networks. The company has organized its principal operations into two: Financial Services businesses and Closed Block business. The Financial Services Businesses operates through three operating divisions: U.S. Retirement Solutions and Investment Management, U.S. Individual Life and Group Insurance, and International Insurance, which together encompass six reportable segments. The U.S. Retirement Solutions and Investment Management division consists of the Individual Annuities, Retirement, and Asset Management segments. The Individual Annuities segment manufactures and distributes individual variable and fixed annuity products, primarily to the U.S. mass affluent market. The Retirement segment manufactures and distributes products and provides administrative services for qualified and non-qualified retirement plans and offers guaranteed investment contracts, funding agreements, institutional and retail notes, structured settlement annuities and group annuities. The Asset Management segment provides a broad array of investment management and advisory services by means of institutional portfolio management, mutual funds, asset securitization activity and other structured products, and proprietary investments. The U.S. Individual Life and Group Insurance division consists of the Individual Life and Group Insurance segments. The Individual Life segment manufactures and distributes individual variable life, term life and universal life insurance products primarily to the U.S. mass middle, mass affluent and affluent markets. The Group Insurance segment manufactures and distributes a full range of group life, long-term and short-term group disability, long-term care and group corporate, bank and trust-owned life insurance in the U.S. primarily to institutional clients for use in connection with employee and membership benefit plans. The International Insurance and Investments division consists of the International Insurance segments which manufactures and distributes individual life insurance, retirement and related products to the mass affluent and affluent markets in Japan, Korea and other foreign countries through its Life Planner operations. The company was founded by John Fairfield Dryden in 1875 and is headquartered in Newark, NJ.

Similar to: Old Mutual Plc

Featured Media

Quantifying the Value of Work-Life Benefits at Prudential Financial

Executives

John Strangfeld, Chairman and Chief Executive Officer

John Strangfeld is Chairman and Chief Executive Officer of Prudential Financial, Inc. (NYSE: PRU), a financial services leader with operations in the United States, Asia, Europe, and Latin America. With over 135 years of life insurance and asset management expertise, Prudential is focused on helping its 50 million individual and institutional customers grow and protect their wealth. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. Prudential ranked first in the "Insurance: Life and Health" category of FORTUNE® magazine's 2012 list of the "World's Most Admired Companies®." In addition to its financial strength, Prudential has a strong reputation in social responsibility, and a long-standing commitment to diversity and workplace inclusion. Before Mr. Strangfeld was named Chairman and CEO in 2008, he was Vice Chairman responsible for Prudential's U.S. Businesses, which include both the Investment and the Insurance Divisions. Prior to his position as Vice Chairman, Mr. Strangfeld held a variety of senior investment positions at Prudential Financial, both within the United States and abroad, including six years in London. Mr. Strangfeld received a BS in Business Administration from Susquehanna University, and an MBA from the Darden School of Business at the University of Virginia, where he is a member of the Raven Society, UVA's oldest honorary society. Mr. Strangfeld also holds the Chartered Financial Analyst (CFA) designation. Mr. Strangfeld is very involved with both of his alma maters. He is Chairman of the Board of Trustees of Susquehanna University and a member of the Board of Trustees of the Darden School Foundation. In 2005, Mr. Strangfeld initiated, and is an ongoing sponsor of, a recruitment and scholarship program for military officers seeking to transition into leadership roles in civilian life via an MBA at Darden. He is actively pursuing additional ways for Prudential and other corporations to support returning Veterans as they re-enter civilian life. Mr. Strangfeld is a member of the Financial Services Forum, the Financial Services Roundtable, the Business Roundtable, the Geneva Association, and the American Council of Life Insurers. He is also a member of the Executive Committee of the Board of Directors of the New Jersey Performing Arts Center in Newark, New Jersey.

Richard J. Carbone, Chief Financial Officer

Richard J. Carbone is executive vice president and chief financial officer (CFO) of Prudential Financial, responsible for its treasury, controllership, tax, business line CFO functions, and M&A activity. Mr. Carbone joined Prudential as CFO in July of 1997 and was elected executive vice president in 2008. Previously, he was the global controller of Salomon, Inc., and a managing director of Salomon Brothers, where he was responsible for all aspects of the controllership function, including pricing verification of securities inventory, and technology development for financial systems. He also served for a brief period as CFO of Salomon Brothers Europe, based in London. Mr. Carbone was recruited by Salomon in May 1995 from Bankers Trust New York Corporation. At Bankers Trust, he was senior vice president and controller from 1988 to 1993. In 1993, he joined the Bankers Trust Individual Services Group as managing director, supervising the Brokerage, Banking, Trust, and Custody areas as well as Operations and Technology for the Private Banking Business. He began his career at Price Waterhouse & Co. in 1976, and left to join E.F. Hutton Group, Inc. in 1981, where he rose to senior vice president and deputy controller. Mr. Carbone received an MBA from St. John's University and is a Certified Public Accountant. He served as an officer in the United States Marine Corps from 1969 to 1972. Mr. Carbone is a board member of The Group of North American Insurance Enterprises (GNAIE), where he served as chairman from April 2005 to April 2007, as well as a member of the International Accounting Standards Board Insurance Working Group. He's also a member of the CFO Executive Board, and is on the board of trustees for Mount Loretto Mission of the Immaculate Virgin for Homeless & Destitute Children.

Barbara G. Koster, Chief Information Officer

Barbara G. Koster is senior vice president and chief information officer for Prudential Financial, head of Global Business and Technology Solutions and a member of Prudential's Senior Management Committee. She has oversight responsibility for information technology at all Prudential locations worldwide and ensures the privacy and integrity of Prudential's information. She formulates policies, establishes standards and architectures and develops guidelines and management practices. She also manages the company's global networks and data centers and other technology infrastructure. In addition, Ms. Koster is chairman of the boards of Pramerica Systems Ireland, Ltd. and Prudential Systems Japan, Ltd., both technology subsidiaries of Prudential Financial. Ms. Koster joined Prudential in November 1995 as vice president and chief information officer in Individual Life Insurance Systems where she was responsible for a wide range of technologies, including those that support distribution, policy administration, customer relationship, business strategy, call centers, service delivery, financial systems, information security, business continuation and architecture. Prior to joining Prudential, Ms. Koster held several positions with Chase Manhattan Bank, including that of president of Chase Access Services. In 2011, NJ Biz newspaper named Ms. Koster one of the "Fifty Best Women in Business." She was named CIO of the Year in 2008 by the Executive Council and listed among the top Executive Women of New Jersey. She also has been named among the Premier IT Leaders by Computerworld magazine; the Top Twenty Financial Management Technologists by the CIO Forum; and the Elite Eight by Insurance & Technology magazine. Ms. Koster received the 1999 Women in Science and Technology award from the Smithsonian Institute. She has been a featured speaker at dozens of national and international industry conferences. Ms. Koster is a member and past chair of ACORD (a standards body for the life insurance industry) and currently serves on the boards of trustees of Liberty Science Center in New Jersey and St. Francis College. She also is a member of Executive Women in NJ and Research Board, an international think tank. Ms. Koster has a Bachelor of Science degree in business administration and an Associate of Science degree in computer technology from St. Francis College.

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