Results for "prudential financial"

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Prudential Financial may sell some Korean units

October 5, 2009

Prudential Financial Inc. said it may sell its Korean investment and fund management units. The insurance and investment company said late Sunday that this includes the potential sale of the Korean operations known as Prudential Investments...

Prudential Financial declines Treasury funds

June 1, 2009

Prudential Financial Inc. today said that it won’t participate in the Department of the Treasury’s Capital Purchase Program. The Newark, N.J.-based financial services firm said that following a review, its management declined the Treasury...

Envestnet nabs Prudential Financial's wealth unit for $30 million

April 12, 2013

Envestnet Inc. has acquired Prudential Financial Inc's Wealth Management Solutions unit in a $30 million-plus deal to continue building its wealth management platform. The turnkey technology provider today announced a deal to pay $10 million...

Warning about insurance reserves at GE is relevant to all U.S. life insurers

August 16, 2019

Harry Markopolos shocked General Electric Co. investors Thursday when he accused the industrial giant of needing $29 billion more in funds for its insurance business. While GE disputed the charges, his analysis underscored how sweeping accounting...

GE plunges as Madoff accuser slams its accounting

August 15, 2019

General Electric Co. fell the most in nearly four years after a prominent expert working with a short seller accused the company of an "accounting fraud" masking tens of billions of dollars in liabilities. The company called the claims "meritless."...

Fee-based annuities still require caution, despite IRS olive branch

August 14, 2019

Financial advisers who use fee-based annuities are likely celebrating after the Internal Revenue Service extended an olive branch last week, ruling favorably on how advisers can charge for annuity advice. But registered investment advisers should...

The insurance providers most frequently used by independent broker-dealers

May 23, 2012

   Fixed annuities Company # of IBDs* Market share Allianz Life Distributors 33 14.3% Jackson National 30 13.0% MetLife 19 8.3% Prudential Financial 19 8.3% Lincoln Financial Group 14 6.1% Based on 86 responses. In case of a tie, products...

Jackson National Life Insurance is No. 1 in adviser satisfaction

September 18, 2011

Financial advisers are stuck on Jackson National Life Insurance Co.'s variable annuities. The life insurer displaced Prudential Financial Inc. as the VA brand to which advisers are most loyal, according to a survey by Cogent Research LLC. Last...

Prudential Equity fined $850G

June 7, 2006

NYSE Group Inc.'s regulatory unit announced today that it fined Prudential Equity Group, part of Prudential Financial Inc., $850,000 for failing to properly supervise its electronic communications, according to published reports. Between 1999...

Prudential sells stake back to Wachovia

December 4, 2008

Prudential Financial Inc. plans to sell its end of a joint stake in Wachovia Securities Financial Holdings LLC of St. Louis to Wachovia Corp. Newark, N.J.-based Prudential announced it would sell its stake in the brokerage firm — worth about...

Legg Mason appoints Mark Fetting CEO

January 29, 2008

Legg Mason Inc. has promoted Mark R. Fetting to the chief executive post, replacing the retiring Raymond "Chip" A. Mason, 71. Mr. Fetting's appointment, which is effective immediately, ends the search for a successor to Mr. Mason, who will remain...

NYLI names chief financial officer

September 14, 2007

Craig A. Merdian has joined New York Life International as executive vice president and chief financial officer. Mr. Merdian is responsible for managing all financial, accounting, investment and actuarial matters for New York based-NYLI. He...

JPMorgan's Madoff missteps

January 8, 2014

JPMorgan and Madoff: The plot thickens. Egregious oversights Prudential Financial goes full-court bullish on the economy. Thinking two moves ahead of the market What we learned from 2013's whopping ETF inflows. ETFs are different and so are...

In a first, Prudential cuts dividend

November 14, 2008

For the first time, Prudential Financial Inc. of Newark, N.J., has cut its shareholder dividend for 2008. Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out...

Wells Fargo pays $4.5B in cash for Prudential’s stake in brokerage

December 16, 2009

Wells Fargo & Co. is shelling out $4.5 billion in cash for Prudential Financial Inc.’s slice of a brokerage joint venture it shared with Wachovia Corp. Wells Fargo released the official price paid for the ownership share this morning. It anticipates...

LTC insurer offering co-pays to blunt soaring premium increases

May 16, 2019

In an effort to blunt soaring premium increases on its long-term-care insurance policyholders, one insurer is offering policyholders a discount if they agree to a co-pay on claims. John Hancock Life Insurance Co. is trying the new approach....

Prudential taps Strangfeld as CEO

November 29, 2007

Prudential Financial Inc. of Newark, N.J. yesterday named John R. Strangfeld its chief executive officer, effective Jan. 1, 2008. Mr. Strangfeld, currently vice chairman of Prudential, now runs all of the company’s U.S. businesses. In this...

UBS snags Wells Fargo vet for wealth management exec role

April 24, 2018

UBS Wealth Management has recruited Heather Crist as its new chief of staff for global wealth management, according to an internal memo obtained by InvestmentNews. Ms. Crist comes from Wells Fargo Advisors, where she worked for 28 years and...

Prudential to buy Allstate's annuity business

March 8, 2006

Prudential Financial Inc. said Wednesday it agreed to buy Allstate Corp.'s variable annuity business for $560 million, according to our sister publication Crain's New York Business. Within two years of closing, Newark, N.J.-based Prudential...

Pyramis names new president

June 20, 2008

Pyramis Global Advisors, a division of Fidelity Investments of Boston focused on institutional asset management, announced yesterday that Kevin C. Uebelein has been named president and chief executive. Mr. Uebelein succeeds Peter J. Smail, who...

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