NEWARK, N.J., March 09, 2016 - Prudential Financial, Inc. [NYSE: PRU] has been named a 2016 World’s Most Ethical Company® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
This is the second consecutive year that Prudential has been honored with this recognition, which is bestowed on organizations that demonstrate a culture of ethics and transparency at every level. To earn the World’s Most Ethical Companies designation, companies are judged in five key categories: Compliance and Ethics Program, Corporate Citizenship, Culture of Ethics, Corporate Governance, and Leadership, Innovation and Reputation.
“Prudential takes pride in being named one of the World’s Most Ethical Companies for the second consecutive year. This recognition acknowledges our promise to achieve results the right way – with the highest degree of ethics in all of our business activities,” said Prudential Chairman and CEO John Strangfeld. “Customers are gaining access to more choices and more information than ever before. As they evaluate who they can trust, a company's record of ethical behavior may very well be the deciding factor.”
The World’s Most Ethical Company assessment is based on Ethisphere’s Ethics Quotient™ (EQ) framework of assessing a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies. In 2016, Prudential outperformed the average of all the World’s Most Ethical Companies in all categories.
Lee Augsburger, senior vice president and Chief Ethics and Compliance Officer for Prudential, said, “It is thrilling to be recognized by the Ethisphere Institute for the second straight year. I believe this award demonstrates that the character of our company is based on a foundation of integrity. I extend my sincere gratitude to all our employees for performing their day-to-day activities with a commitment to doing business the right way. That is what makes us worthy of trust.”
Augsburger, who has oversight responsibility for Prudential’s worldwide compliance organization and the company’s global business ethics activities, pointed out that the company’s business ethics program promotes prevention, detection and resolution of potential misconduct and adherence to the letter and spirit of regulatory and legal mandates. “When we make good character a part of how we handle our business activities, the risk of unethical corporate behavior becomes smaller for us. It also demonstrates that not only will we keep our promises to our customers, but that we really care about them,” said Augsburger, who is a member of the Board of Advisors for the Institute for Ethical Leadership at Rutgers University, board chair for the Ethics and Compliance Association and is former chair of the board of the National Society of Compliance Professionals.
Ethisphere Chief Executive Officer Timothy Erblich said, “Prudential understands the importance of setting behavioral expectations for their entire workforce. From the boardroom to their frontline employees, Prudential’s values steward daily decision-making. We commend their commitment to leading with integrity and creating sustainable value for all stakeholders. Congratulations to everyone at Prudential for being recognized as a 2016 World's Most Ethical Company.” The Ethisphere Institute has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of December 31, 2015, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.