Prudential Financial Aligns Individual and Institutional Retirement Capabilities to Form New Business Prudential Retirement Strategies | Your money

NEWARK, NJ – (BUSINESS WIRE) – October 4, 2021–

Prudential Financial, Inc. (NYSE: PRU) today announced the creation of Prudential Retirement Strategies, a new US company that will meet the retirement needs of individual and institutional clients.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211004005604/en/

Yanela Frias, President, Prudential Group Insurance (Photo: Business Wire)

Effective today, this new venture, led by Dylan Tyson, President of Prudential Retirement Strategies, will combine the company’s individual annuity business and institutional retirement investment products, which include risk transfer from retirement and international reinsurance, among others. This decision positions Prudential with a unique scope and scale in the retirement market to protect the critical financial results of individuals and institutions.

“This new structure brings together cutting-edge talent and capabilities to focus on a single mission: to meet the retirement needs of individual and institutional clients across the United States,” said Caroline Feeney, CEO, US Insurance and Retirement Businesses . “The creation of Prudential Retirement Strategies is another step in transforming our business and product portfolio and accelerating our growth.

Yanela Frias, previously president of Prudential Retirement, will become president of group insurance operations at Prudential. “The group insurance business remains an important part of Prudential’s purpose and mission,” said Feeney. “Yanela is a proven leader whose experience with customers in the workplace will ensure that we remain well positioned to serve and anticipate the needs of our partners and customers, and to grow the business.”

Frias also retains responsibility for the record keeping and administration of Prudential’s full-service pension plans until the closing of its sale to Empower Retirement, which is slated for Q1 2022, pending approvals. usual regulations.

Jamie Kalamarides, President of Group Insurance, will be leaving Prudential after the transfer of his responsibilities to Frias.

“We appreciate Jamie’s many contributions over the years to support Prudential, our employees and our customers,” said Feeney. “He is a strong advocate for how our business and our industry can make a meaningful difference in making financial security accessible to more people. “

Prudential’s US insurance and retirement business portfolio, led by Feeney, includes group insurance oversight, individual life insurance, retirement strategies and organizational Consulting and retail solutions, as well as key support functions, which include enabling solutions and enterprise capabilities. Feeney continues to report to Executive Vice President and Head of US Operations Andy Sullivan.

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE: PRU), a global leader in financial services and the world’s largest active investment manager with more than $ 1.5 trillion in assets under management as of June 30, 2021, operates in the United States, in Asia, Europe and Latin America. Prudential’s diverse and talented employees help improve lives by creating financial opportunity for more people. Prudential’s iconic Rock symbol has been synonymous with strength, stability, expertise and innovation for over a century. For more information, please visit news.prudential.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211004005604/en/

CONTACT: PRUDENTIAL MEDIA:

Bill Launder, +1 973-802-8760, [email protected]

KEYWORD: NEW JERSEY UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES INSURANCE FINANCE CONSULTING BANKING

SOURCE: Prudential Financial, Inc.

Copyright Business Wire 2021.

PUB: 04/10/2021 10:02 / DISC: 04/10/2021 10:02

http://www.businesswire.com/news/home/20211004005604/en

Copyright Business Wire 2021.

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