Prudential Newsroom

Prudential Financial announces inaugural green bond issuance

Fri, 06 Mar 2020 08:30:00 EST

NEWARK, N.J., March 06, 2020 - Prudential Financial, Inc. (NYSE: PRU) announced the offering of the firm's first green bond, furthering the company's commitment to sustainable investments which deliver a positive environmental impact.

PGIM's real estate businesses complete over $35B in transactions worldwide in 2019

Mon, 02 Mar 2020 09:00:00 EST

The real estate businesses of PGIM completed over $35 billion in transactions worldwide in 2019. The volume represents a total of 954 transactions and includes $14.8 billion in real estate equity investments and dispositions on behalf of third-party investors, in addition to a record $20.5 billion in real estate financing.

Prudential Retirement calls on the workplace to support savings at every life stage

Mon, 24 Feb 2020 08:30:00 EST

As America Saves Week kicks off on Feb. 24, Prudential Financial, Inc. is supporting our government's call for retirement readiness.

PGIM appoints senior macroeconomic researcher to client advisory group

Thu, 20 Feb 2020 11:30:00 EST

NEWARK, N.J., Feb. 20, 2020 – Dr. Noah Weisberger has joined PGIM as a managing director in the Institutional Advisory & Solutions (IAS) group. PGIM Inc. is the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Leaders of Prudential's longevity reinsurance business optimistic about a vibrant 2020 risk transfer market after record-breaking 2019

Tue, 18 Feb 2020 09:00:00 EST

NEWARK, N.J., February 18, 2020 - The Prudential Insurance Company of America (PICA), a business unit of Prudential Financial, Inc. (NYSE: PRU), and a recognized leader in the global pension de-risking market, has announced the closing of its seventh and eighth strategic longevity reinsurance transactions with Rothesay Life Plc, reinsuring a combined $6 billion of pension liabilities associated with two bulk annuity transactions completed in the second half of 2019.

Prudential combats national debt crisis through new financial wellness offering

Thu, 13 Feb 2020 10:12:00 EST

NEWARK, N.J., February 13, 2020 - Recognizing the negative impact of household debt on long-term financial security and retirement readiness, Prudential (NYSE:PRU) is partnering with national nonprofit GreenPath Financial Wellness to introduce debt management advice and tools to its growing suite of workplace financial wellness solutions.

PGIM Investments sets record AUM with $12.2B of net fund flows in 2019

Tue, 11 Feb 2020 09:30:00 EST

NEWARK, N.J., February 11, 2020 - PGIM Investments ended 2019 with $12.2 billion in net mutual fund flows and record mutual fund assets under management of $122.5 billion. The strong flows and record AUM growth were largely driven by demand for its fixed income funds.

PGIM Private Capital provides $13B in private debt to middle-market companies in 2019

Thu, 06 Feb 2020 07:30:00 EST

CHICAGO, February 06, 2020 - PGIM Private Capital provided $13 billion of senior debt and junior capital to 228 middle-market companies and projects globally in 2019. PGIM Private Capital, a leading source of private capital for public and private companies, is the private capital arm of PGIM Inc., the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial, Inc. Announces 2019 Results

Tue, 04 Feb 2020 16:18:00 EST

NEWARK, N.J., February 04, 2020 - Prudential Financial, Inc. (NYSE:PRU) today reported fourth quarter and year-end 2019 results. For the fourth quarter of 2019, net income attributable to Prudential Financial, Inc. was $1.128 billion ($2.76 per Common share), compared to $842 million ($1.99 per Common share) for the fourth quarter of 2018.

Top youth volunteers of 2020 honored nationwide

Tue, 04 Feb 2020 09:00:00 EST

WASHINGTON, D.C. -- They're taking on food insecurity, opioid abuse and veteran homelessness. Several are leading projects to strengthen their local ecosystems. Many created new opportunities for inclusion and connection amongst their peers.

Prudential to oversee $820M in retirement assets for California plan

Wed, 22 Jan 2020 09:00:00 EST

NEWARK, N.J., January 22, 2020 - Alameda County, an East Bay government plan client for nearly 29 years, has extended its contract with Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU). Prudential oversees a combined $820 million in retirement assets for both 457(b) and 401(a) plans.

Prudential Financial to Announce Fourth Quarter 2019 Earnings; Schedules Conference Call

Thu, 09 Jan 2020 07:30:00 EST

NEWARK, N.J., January 09, 2020 - Prudential Financial, Inc. (NYSE:PRU) will release its fourth quarter 2019 earnings on Tuesday, February 4, 2020, after the market closes. The earnings news release, the financial supplement and related materials will be posted on the company's Investor Relations website at investor.prudential.com.

Prisma Health renews partnership with Prudential to oversee $1.3B in retirement assets

Wed, 08 Jan 2020 09:00:00 EST

NEWARK, N.J., January 08, 2020 - Prudential Retirement will continue its decade-long relationship with Prisma Health, South Carolina's largest not-for-profit health organization serving more than 1.2 million patients annually, as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

PGIM appoints senior relationship executive in China

Mon, 06 Jan 2020 09:00:00 EST

NEWARK, N.J., January 06, 2020 - Sun Hao has joined PGIM as head of its Institutional Relationship Group for China.

Prudential's multi-stakeholder framework reinforces board commitment to investors, employees, customers and society

Thu, 19 Dec 2019 07:30:00 EST

NEWARK, N.J., December 19, 2019 - The Board of Directors for Prudential Financial, Inc. (NYSE: PRU) has introduced a multi-stakeholder framework that extends the board's accountability to shareholders, employees, customers and society.

American Campus Communities selects Prudential to manage defined contribution and nonqualified plans

Wed, 18 Dec 2019 09:00:00 EST

NEWARK, N.J., Dec. 18, 2019 – American Campus Communities, the nation's largest developer, owner and manager of high-quality student housing communities, selected Prudential Retirement as its new retirement plan provider.

PGIM Real Estate completes sale of 11-property senior housing portfolio

Tue, 17 Dec 2019 09:00:00 EST

MADISON, N.J., Dec. 17, 2019 – PGIM Real Estate has sold a portfolio of 11 senior housing properties managed by Brightview Senior Living and located throughout the Northeast and Mid-Atlantic U.S.

Inflation fears a golden opportunity for hedging institutional portfolios: PGIM study

Wed, 11 Dec 2019 08:45:00 EST

NEWARK, N.J., December 11, 2019 - Are institutional investors joining the gold rush? While gold's long-term performance is not strong compared to other assets, new PGIM research finds that under certain economic conditions—including a slowing growth environment—institutional investors are right to evaluate adding gold-related assets to a diversified portfolio. PGIM Inc. is the $1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial strengthens commitment to environment with new sustainability goals

Wed, 04 Dec 2019 16:30:00 EST

NEWARK, N.J., December 04, 2019 - Prudential Financial, Inc.'s (NYSE: PRU) new Global Environmental Commitment (GEC) expands the company's support for sustainable investments through a wide range of business, operational and investment goals.

PGIM global institutional relationship group adds senior hires

Mon, 18 Nov 2019 00:00:00 EST

NEWARK, Nov. 18, 2019 – PGIM, the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has made three hires into its Institutional Relationship Group (IRG), all reporting to Cameron Lochhead, global head of IRG.

Jennison Associates hires chief marketing officer

Fri, 15 Nov 2019 09:00:00 EST

NEW YORK, Nov. 15, 2019 – Rebecca Kniesel has joined Jennison Associates as chief marketing officer, responsible for developing and executing a strategic marketing plan that positions Jennison and its investment strategies for success across channels and geographies. Kniesel will report to Lori McEvoy, Jennison's global head of distribution. Jennison is an affiliate manager of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Retirement names Christine Lange head of Customer Solutions

Wed, 13 Nov 2019 09:00:00 EST

NEWARK, N.J., November 13, 2019 - Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), announced today Christine Lange has been hired as head of Customer Solutions for Institutional Retirement Plan Services, effective immediately.

Los Angeles Lakers renew Prudential contract for $30M in retirement assets, continuing 25-year relationship

Tue, 12 Nov 2019 09:00:00 EST

NEWARK, N.J., Nov. 12, 2019 – Prudential Retirement will continue its nearly 25-year-long relationship with the Los Angeles Lakers, the 16-time NBA Champion franchise team, as record keeper for its defined contribution retirement plan.

Prudential Financial, Inc. Announces Third Quarter 2019 Results

Mon, 04 Nov 2019 16:18:00 EST

NEWARK, N.J., November 04, 2019 - Prudential Financial, Inc. (NYSE:PRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $1.418 billion ($3.44 per Common share) for the third quarter of 2019, compared to $1.672 billion ($3.90 per Common share) for the third quarter of 2018.

Women share common ground with men, but jobs at the top still harder to get, survey says

Wed, 30 Oct 2019 06:00:00 EST

NEWARK, N.J., October 30, 2019 - Women and men share common ground at work when it comes to understanding what it takes to win top jobs, yet women still contend with bias-related barriers to advancement more often than men, according to a recent poll released today from ASCEND and Morning Consult sponsored by Prudential Financial, Inc. (NYSE: PRU).

PGIM Investments invests in senior talent as part of global expansion

Tue, 29 Oct 2019 07:00:00 EST

NEWARK, N.J., October 29, 2019 - PGIM Investments has made senior-level hires across its marketing and technology functions, as well as expanded roles of two senior executives. The investment in top talent comes on the heels of 10 consecutive years of positive net flows for the retail fund shop, underscoring the firm's ongoing commitment to serving its growing client base both in the U.S. and internationally.

Transformative corporate models change investment calculus for investors: PGIM study

Thu, 24 Oct 2019 11:00:00 EST

New PGIM research highlights long-term investment implications of three new types of companies emerging to dominate today's market.

Prudential Retirement names Michael Domingos new head of Sales and Strategic Relationships

Wed, 23 Oct 2019 09:00:00 EST

NEWARK, N.J., October 23, 2019 - Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), announced today Michael Domingos, vice president, National Distribution Markets, will be promoted to senior vice president and head of Sales and Strategic Relationships, Prudential Retirement. The appointment will be effective Dec. 2.

Prudential Financial completes acquisition of Assurance IQ, Inc.

Thu, 10 Oct 2019 16:18:00 EST

NEWARK, N.J., & BELLEVUE, Wash., October 10, 2019 - Prudential Financial, Inc. (NYSE: PRU) announced today that it has completed its acquisition of Assurance IQ, Inc., "Assurance," a leading consumer solutions platform for health and financial wellness needs.

UA Local 22 Annuity Fund and Sendik's Food Market choose Prudential to manage retirement plan assets

Wed, 09 Oct 2019 00:00:00 EST

NEWARK, N.J., Oct. 9, 2019 – UA Local 22 Plumbers and Steamfitters Annuity Fund, and Sendik's Food Market, a family-owned Milwaukee grocery chain, chose Prudential Retirement as record keeper for their defined contribution retirement plans.

Prudential Financial to Announce Third Quarter 2019 Earnings; Schedules Conference Call

Thu, 03 Oct 2019 07:18:00 EST

NEWARK, N.J., October 03, 2019 - Prudential Financial, Inc. (NYSE:PRU) will release its third quarter 2019 earnings on Monday, November 4, 2019, after the market closes. The earnings news release, the financial supplement and related materials will be posted on the company's Investor Relations website at: investor.prudential.com.

Prudential Financial to acquire Assurance IQ, Inc., a leading consumer solutions platform for health and financial wellness needs, for $2.35 billion

Thu, 05 Sep 2019 06:45:00 EST

NEWARK, N.J., & BELLEVUE, Wash., September 05, 2019 - Prudential Financial, Inc. (NYSE: PRU) today announced that it has signed a definitive agreement to acquire Assurance IQ, Inc., "Assurance," a profitable, fast-growing direct-to-consumer platform that transforms the buying experience for individuals seeking personalized health and financial wellness solutions.

National awards program seeking America's top youth volunteers of 2020

Tue, 03 Sep 2019 09:00:00 EST

Today through November 5, 2019, The Prudential Spirit of Community Awards is looking for the top youth volunteers of the year in each U.S. state and the District of Columbia. Students in grades 5-12 are invited to apply.

Prudential Financial announces leadership succession for U.S. Businesses

Thu, 29 Aug 2019 16:30:00 EST

NEWARK, N.J., August 29, 2019 - Prudential Financial, Inc. (NYSE:PRU) today announced that Andrew Sullivan will succeed Stephen Pelletier as executive vice president and head of U.S. Businesses, reporting to Chairman and CEO Charles Lowrey, effective December 1. Pelletier will retire following an extraordinary 27-year career with the company, in which he led Group Insurance and Prudential Annuities, and founded Prudential's international asset management businesses, now PGIM Global Partners.

Prudential realigns marketing organization to deepen engagement with customers at every life stage

Wed, 28 Aug 2019 16:00:00 EST

Prudential Financial, Inc. (NYSE: PRU) has launched a new operating model for its U.S. marketing organization that will enable the company to forge deeper connections with customers.

Prudential Retirement announces a new reinsurance counterparty, bringing its support to insurers that make up over 90% of UK pension risk transfer market

Fri, 02 Aug 2019 09:00:00 EST

NEWARK, N.J., August 02, 2019 - Prudential Retirement^®, a business unit of Prudential Financial, Inc. (NYSE: PRU), and The Phoenix Group, Europe's largest life and pensions consolidator and one of the fastest-growing providers of life and pension insurance in the United Kingdom, have entered into an inaugural longevity reinsurance agreement covering U.K. retirees.

Prudential Financial, Inc. Announces Second Quarter 2019 Results

Wed, 31 Jul 2019 16:18:00 EST

Prudential Financial, Inc. (NYSE: PRU) today reported second quarter results. Net income attributable to Prudential Financial, Inc. was $708 million ($1.71 per Common share) for the second quarter of 2019, compared to $197 million ($0.46 per Common share) for the second quarter of 2018. After-tax adjusted operating income was $1.307 billion ($3.14 per Common share) for the second quarter of 2019, compared to $1.298 billion ($3.01 per Common share) for the second quarter of 2018.

Gibraltar India Solutions, local arm of global insurance giant, opens technology center

Wed, 31 Jul 2019 00:00:00 EST

BENGALURU, India, July 31, 2019 — Gibraltar India Solutions, a Prudential Financial, Inc. (US) company (PFI), has announced the opening of its India Development Center on July 30 in Bengaluru, India.

Prudential Group Insurance announces leadership changes, underscores focus on Financial Wellness strategy

Mon, 29 Jul 2019 09:00:00 EST

NEWARK, N.J., July 29, 2019 - Leston Welsh has been promoted to head of Products for Prudential Group Insurance. Prudential Group Insurance is a unit of Prudential Financial, Inc. (NYSE:PRU).

Wayne County and Prudential Retirement continue 20-year partnership with $650M in assets

Mon, 22 Jul 2019 09:00:00 EST

NEWARK, N.J., July 22, 2019 - Prudential Retirement will continue its more than two-decade partnership with Wayne County, the most populous county in Michigan, as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

QMA names Linda Gibson as first chief business officer, continuing global expansion

Wed, 10 Jul 2019 05:00:00 EST

NEWARK, N.J., July 10, 2019 - QMA has named Linda Gibson to the newly created role of chief business officer, the latest step in the firm's continued global expansion. QMA is the quantitative equity and global multi-asset specialist of PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Capital Group adopts PGIM Private Capital as new global brand name

Tue, 09 Jul 2019 10:30:00 EST

CHICAGO, July 09, 2019 - Prudential Capital Group has renamed its global investment business as PGIM Private Capital. With over $86 billion in assets under management (as of March 31, 2019), the business is the private capital arm of PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial to Announce Second Quarter 2019 Earnings; Schedules Conference Call

Tue, 02 Jul 2019 07:18:00 EST

NEWARK, N.J., July 02, 2019 - Prudential Financial, Inc. (NYSE:PRU) will release its second quarter 2019 earnings on Wednesday, July 31, 2019, after the market closes. The earnings news release, the financial supplement and related materials will be posted on the company's Investor Relations website at: investor.prudential.com.

Prudential Financial sustainability report details financial resilience, responsible impact

Thu, 27 Jun 2019 09:00:00 EST

NEWARK, N.J., June 27, 2019 - Prudential Financial, Inc. (NYSE: PRU) released its 2018 sustainability report, detailing how the company supports its four building blocks of long-term vitality: financial sustainability, customer focus, investing in people and responsible impact.

PGIM Real Estate Global Outlook: Striking the right portfolio balance late in the cycle

Tue, 25 Jun 2019 09:00:00 EST

NEW YORK, June 25, 2019 - Elevated global real estate pricing continues to be supported by low interest rates and there are still reasons to be optimistic about the outlook for income growth, according to PGIM Real Estate's 2019 Global Outlook. PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE:PRU).

Employee programs that combine lifestyle and financial wellness benefits may yield healthier, less-stressed workers, Prudential study finds

Fri, 21 Jun 2019 07:00:00 EST

Employers who provide traditional health and wellness offerings alongside financial wellness programs are likely to reap the benefits of a healthier workforce. Research unveiled by Prudential at the Aspen Ideas: Health festival suggests a connection between the use by employees of both benefit types and improved physical and mental health, based on self-reported outcomes.

International Union of Operating Engineers selects Prudential for retirement solutions

Thu, 20 Jun 2019 09:00:00 EST

NEWARK, N.J., June 20, 2019 – The International Union of Operating Engineers (IUOE) Local 132, a progressive trade union based in Huntington, West Virginia, representing heavy equipment operators and mechanics, as well as workers in building and industrial complexes and services throughout the United States and Canada, selected Prudential Retirement as its new retirement plan provider.

Legacy Lives On: One Solution and Prudential documentary highlights new pathways to financial freedom and financial wellness for black Americans

Wed, 19 Jun 2019 08:30:00 EST

One Solution, the leading branded content division of Urban One, and Prudential Financial, Inc., a leader in financial services, have partnered to create Legacy Lives On, a new 45-minute original documentary created to spark conversations about our relationships with money and the journey to financial wellness in the black community.

Prudential Financial, Inc. 2019 Financial Strength Symposium presentation materials and live webcast available

Wed, 12 Jun 2019 13:25:00 EST

NEWARK, N.J., June 12, 2019 - Presentation materials for the Prudential Financial, Inc. (NYSE: PRU) conference are now available at Prudential's Investor Relations website, investor.prudential.com. The conference begins on Wednesday, June 12, 2019 at 2:00 p.m. ET. The general public is invited to access a live webcast of the conference on the Investor Relations website. A replay of the conference will also be available on the Investor Relations website through June 26, 2019.

Springfield Clinic partners with Prudential to oversee $300 million in retirement assets

Wed, 12 Jun 2019 09:00:00 EST

Springfield Clinic, the second largest multispecialty clinic in Illinois, chose Prudential Retirement as record keeper for its defined contribution retirement plans.