Prudential Financial has reorganized its remaining retirement business units, creating Prudential Retirement Strategies, which will serve individual and institutional customers.
The changes follow the July announcement that Prudential is selling many parts of its retirement business, including its defined-contribution, defined-benefit, nonqualified and rollover IRA, stable value and separate accounts units, to Empower Retirement.
The new unit, which is being led by Dylan Tyson, combines Prudential’s individual annuities business and its institutional retirement business, which includes pension risk transfer and international reinsurance.
Yanela Frias, previously president of Prudential Retirement, will become president of Prudential’s group insurance business. Frias also retains responsibility for the company’s retirement plan record-keeping and administration business until its sale to Empower closes, which is expected in the first quarter of 2022.
Jamie Kalamarides, president of the group insurance business, will be leaving Prudential after the transition of his responsibilities to Frias.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
