prudential financial inc (PRU) Key Developments
Prudential Financial, Inc. Presents at AIFA Annual Conference, Mar-03-2014 02:30 PM
Feb 27 14
Prudential Financial, Inc. Presents at AIFA Annual Conference, Mar-03-2014 02:30 PM. Venue: Boca Raton Resort & Club, Boca Raton, Florida, United States. Speakers: Scott G. Sleyster, Chief Investment Officer and Senior Vice President.
Prudential Financial, Inc. Announces Executive Changes
Feb 13 14
Prudential Financial, Inc. announced a number of senior management changes that are designed to match the company's strategic priorities with its talent management strategy. The company announced that Ed Baird, executive vice president and chief operating officer of Prudential's International Division, will retire from that position on April 4, 2014. Baird, who joined Prudential in 1979, was appointed to head the company's international businesses in 2008 after serving in several senior management roles. Taking over the top international post will be Charles F. Lowrey, who for the past three years has served as executive vice president and chief operating officer of Prudential's U.S.-based businesses, which are comprised of Prudential Investment Management, Prudential Retirement, Prudential Annuities, Individual Life Insurance and Group Insurance. Before his current role, Lowrey was president and CEO of Prudential Investment Management, Prudential Financial's asset management business. Previously, he was CEO of Prudential Real Estate Investors. He joined the company in March 2001. Steve Pelletier, currently CEO of Prudential's Group Insurance business, which provides employee benefits solutions, including Group Life, Disability, and Group Nonqualified Benefit Funding programs, will succeed Lowrey as head of U.S. Businesses. He will be promoted to executive vice president. Prior to his current role, Pelletier was president of Prudential Annuities and has held several senior leadership roles in the U.S. and around the world. He received an M.A. from Yale University and a B.A. from Northwestern University. Assuming Pelletier's role as CEO of the Group Insurance business will be Lori Fouché, who currently serves as president and chief operating officer of Group Insurance. She will be promoted to senior vice president. Fouché joined Prudential in 2013 and has more than 20 years of insurance industry experience, including serving as president and CEO of Fireman's Fund Insurance Company.
Prudential Financial, Inc. Declares Quarterly Dividend, Payable on March 20, 2014
Feb 11 14
Prudential Financial, Inc. announced the declaration of a quarterly dividend of $0.53 per share of common stock, payable on March 20, 2014, to shareholders of record at the close of business on February 25, 2014.
Prudential Financial, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
Feb 5 14
Prudential Financial, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenue of $9,939 million, compared to $45,936 million for the last year. Loss from continuing operations was $424 million, compared to $185 million for the last year. Net loss attributable to the company was $460 million, compared to $203 million for the last year. Common stock earnings per share amounted to $2.20 for the fourth quarter, based on after-tax adjusted operating income of the Financial Services businesses. This compares to EPS of $1.76 a year-ago. On a GAAP basis, the company reported a net loss of $427 million for the current quarter.
For the full year of 2013, the company revenue of $41,461 million, compared to $84,847 million for the last year. Loss from continuing operations was $567 million, compared to income from continuing operations of $555 million for the last year. Net loss attributable to the company was $667 million, compared to net income attributable to the company of $520 million for the last year.
Fosun Group and Prudential Financial, Inc. Expand Strategic Partnership in China
Jan 22 14
Fosun Group and Prudential Financial, Inc. announced an expansion of their strategic relationship, building on their existing joint venture partnerships in life insurance and investment management, and focusing on key areas of growth in China. The two companies, which began working together in 2011, intend to launch a real estate joint venture to invest in mixed use development projects in growing urban centers in China. PFI will also move its China headquarters into the Bund Financial Center, which is scheduled to open in 2015. In addition, both companies plan to work together to develop a retirement platform with products, services and educational resources that help Chinese individuals and families in retirement better cope with the challenges and those who are contemplating retirement prepare for it with security and peace of mind. Fosun and PFI anticipate investing in and developing mixed use projects through a combination of proprietary and third-party capital. Both companies also expect to work together on real estate projects outside of China. Fosun will also offer education and planning tools, as well as retirement benefits, to certain long-term employees of the company.