Prudential Newsroom: News

American Council of Engineering Companies (ACEC) Retirement Trust Adopts Prudential IncomeFlex®

Wed, 03 Feb 2010 11:00:00 EST

NEWARK, N.J., February 03, 2010 - Prudential Retirement announced today that its market-leading guaranteed retirement-income solution, Prudential IncomeFlex® (IFX), will be offered as an investment option in the American Council of Engineering Companies (ACEC) Retirement Trust, a defined contribution retirement program sponsored by ACEC for its member firms.

Prudential Financial to Host 2010 Tokyo Investor Day

Wed, 27 Jan 2010 16:00:00 EST

NEWARK, N.J., January 27, 2010 - Prudential Financial, Inc. (NYSE:PRU) will host a conference for analysts and investors in Tokyo, Japan, on Wednesday, September 15, 2010. Details will be announced closer to the date of the meeting.

American Workers Seek Redesigned Retirement Plans

Tue, 26 Jan 2010 12:00:00 EST

In the wake of the most severe economic crisis since the Great Depression, the overwhelming majority of American workers believe it’s time to create a new and improved model for workplace-provided retirement programs, according to a new survey by Prudential Financial (NYSE: PRU).

Prudential hires Shelley Michelson to manage FHA healthcare-lending program

Thu, 21 Jan 2010 00:00:00 EST

NEWARK, N.J. – Shelley Michelson has joined Prudential Mortgage Capital Company as principal and FHA hospital portfolio manager of the company’s FHA-lending business, Prudential Huntoon Paige. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

Prudential Capital Partners closes third mezzanine fund at $965 Million

Wed, 20 Jan 2010 00:00:00 EST

Prudential Capital Partners announced today that it has successfully completed fundraising for Prudential Capital Partners III, L.P. with capital commitments totaling $965 million, exceeding its initial fundraising target of $900 million. Prudential Capital Partners is the middle-market mezzanine fund business sponsored by Prudential Capital Group, a private fixed-income investment business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Retirement, Annuities businesses win DALBAR’s 2009 service awards

Wed, 20 Jan 2010 00:00:00 EST

Prudential Retirement and Annuities service organizations were recognized for the exceptional service used to meet customer needs during the recent economic crisis by one of the nation’s leading independent market-research and consulting firms. Prudential Annuities and Prudential Retirement are business units of Prudential Financial (NYSE: PRU).

Prudential Financial Completes Sale of Minority Interest in Joint Venture

Thu, 31 Dec 2009 00:00:00 EST

NEWARK, N.J., December 31, 2009 - Prudential Financial, Inc. (NYSE:PRU) today announced that it has completed the sale of its minority joint venture interest in Wachovia Securities Financial Holdings, LLC, which includes Wells Fargo Advisors (formerly Wachovia Securities) to Wells Fargo & Company. At the closing, Prudential received $4.5 billion in cash.

JennisonDryden Mutual Funds to be Renamed Prudential Investments

Wed, 16 Dec 2009 15:00:00 EST

JennisonDryden, Prudential Financial's mutual fund family, will be renamed Prudential Investments, effective on or about Feb. 16, 2010. The mutual fund family offers funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities.

Pru Retirement Expert Gains Seat on Stable Value Investment Association’s Board

Wed, 16 Dec 2009 14:00:00 EST

NEWARK, N.J., December 16, 2009 - James King, a vice president of Prudential Financial (NYSE: PRU) and head of Prudential Retirement’s Stable Value Markets Group, has been appointed to the Stable Value Investment Association’s (SVIA) Board of Directors. King was elected to the Board of Directors in October and will serve a three-year term.

Wells Fargo and Prudential Announce Purchase Price for Noncontrolling Interest

Tue, 15 Dec 2009 19:39:00 EST

NEWARK, N.J., December 15, 2009 - Wells Fargo & Company (NYSE: WFC) and Prudential Financial, Inc. (NYSE: PRU) announced today that Wells Fargo will pay $4.5 billion in cash to purchase Prudential’s noncontrolling interest in their retail brokerage joint venture, which includes Wells Fargo Advisors, LLC (collectively, Wells Fargo Advisors).

PREI® Signs United Nations Principles for Responsible Investment

Mon, 14 Dec 2009 09:30:00 EST

Prudential Real Estate Investors has signed the United Nations-backed Principles for Responsible Investment, strengthening its commitment to incorporate environmental, social and governance criteria into its investment practices, while continuing to meet its obligations to provide favorable investment returns to investors.

Rattled Americans Value the Stability of Life Insurance

Wed, 02 Dec 2009 08:00:00 EST

NEWARK, N.J., December 02, 2009 - Feeling insecure about the future, Americans have a growing interest in financial products that offer guarantees, including life insurance, according to a report released by Prudential Financial, Inc. (NYSE: PRU).

Prudential Fixed Income Management Named Replacement Manager for $490 million CLO

Mon, 23 Nov 2009 13:30:00 EST

Prudential Fixed Income Management has been selected to serve as replacement manager for Duane Street V CLO, a $490 million collateralized loan obligation.

Uneasy Workers Don’t Appreciate the Value of Benefits

Mon, 23 Nov 2009 00:00:00 EST

U.S. workers feel uneasy and less positive about the workplace and the value of their employee benefits, according to a research report released by Prudential Financial, Inc. (NYSE:PRU).  The study, Show Them the Value, found more workers feel their employers are cutting back on benefits, a perception that negatively affects their attitudes toward the value of the benefits.

Prudential Financial Names Falzon Treasurer and Fleurant Controller

Tue, 17 Nov 2009 16:39:00 EST

NEWARK, N.J., November 17, 2009 - Prudential Financial, Inc. (NYSE:PRU) today announced that Robert Falzon, CFA, currently Managing Director, CEO of Prudential Real Estate Investors (PREI), Europe, and head of Global Merchant Banking, was named Treasurer, and John Fleurant, who currently serves as CFO of U.S. Businesses, was named Prudential’s Controller.

Economic Turmoil Brings Benefits Costs to the Forefront

Mon, 16 Nov 2009 09:12:00 EST

NEWARK, N.J., November 16, 2009 - Global economic and financial conditions have turned controlling benefits-related costs into a high priority at most companies, according to a recent report released by Prudential Financial, Inc. (NYSE:PRU).

Prudential Community Resources awards $110,000 To winners of the Strength for Capacity business plan competition

Thu, 12 Nov 2009 10:00:00 EST

NEWARK, N.J., November 12, 2009 - Three New Jersey organizations were selected winners of a business plan competition sponsored by the Community Resources Department of Prudential Financial, Inc. (NYSE:PRU) to encourage nonprofits to think creatively about new ways to generate revenues to support their mission.

Prudential Financial, Inc. to Hold New York Investor Day for Institutional Investors and Analysts

Wed, 11 Nov 2009 16:10:00 EST

NEWARK, N.J., November 11, 2009 - Prudential Financial, Inc. (NYSE:PRU) will hold its New York conference for institutional investors and analysts on December 10, 2009. The day’s schedule will commence with opening remarks at 8:30 a.m. and is expected to conclude at approximately 12:30 p.m. with lunch to follow. Breakfast will be served beginning at 7:30 a.m.

Investors optimistic as they rebuild savings

Wed, 11 Nov 2009 09:00:00 EST

American investors are optimistic they will recoup losses from the recession and are exploring new options to build their retirement savings, according to a report released today by Prudential Financial, Inc.

Prudential Financial Declares Annual Dividend on Common Stock

Tue, 10 Nov 2009 16:08:00 EST

NEWARK, N.J., November 10, 2009 - Prudential Financial, Inc. (NYSE:PRU) announced today that its Board of Directors has declared an annual dividend for 2009 of 70 cents per share of Common Stock, payable on December 18, 2009, to shareholders of record at the close of business on November 24, 2009. The 2009 Common Stock declared dividend represents an increase of approximately 21 percent from the 2008 Common Stock dividend.

Prudential Retirement Selected to Manage All Evonik Degussa Retirement Programs

Mon, 09 Nov 2009 09:30:00 EST

NEWARK, N.J., November 09, 2009 - Evonik Degussa Corporation, a subsidiary of Evonik Industries AG and a global leader in specialty chemicals, has selected Prudential Retirement to manage all the organization’s retirement programs. Prudential, already one of the firm’s defined benefit plan providers, will now administer Evonik Degussa’s full complement of defined benefit, defined contribution and nonqualified programs, managing more than $650 million in assets for approximately 11,000 active plan participants and retirees.

Wall Street one year after the presidential election

Fri, 06 Nov 2009 00:00:00 EST

What's happened with the global financial markets in the year since Barack Obama was elected president? John Praveen, chief investment strategist at Prudential International Investments Advisers, shares his insight on the state of the financial markets almost a year into the Obama administration. He discusses the biggest surprises--both positive and negative--that have affected the markets over the last year, whether Wall Street has embraced the new administration’s fiscal measures and where we’re headed over the next year.

Prudential Financial, Inc. Announces Third Quarter 2009 Results; Updates 2009 Earnings Guidance

Wed, 04 Nov 2009 16:07:00 EST

NEWARK, N.J., November 04, 2009 - Prudential Financial, Inc. (NYSE:PRU) today reported net income of its Financial Services Businesses attributable to Prudential Financial, Inc. of $1.090 billion ($2.35 per Common share) for the third quarter of 2009, compared to a net loss of $118 million (25 cents per Common share) for the year-ago quarter. After-tax adjusted operating income for the Financial Services Businesses was $733 million ($1.59 per Common share) for the third quarter of 2009, compared to $430 million ($1.02 per Common share) for the third quarter of 2008. Adjusted operating income is a non-GAAP measure as discussed below.

Americans Don’t Understand Long-Term Care Insurance

Tue, 03 Nov 2009 11:56:00 EST

NEWARK, N.J., November 03, 2009 - An aging American workforce is increasingly concerned about long-term care needs and the benefits available through employers, according to a report released by Prudential Financial, Inc. (NYSE: PRU).

Life After Debt: Coming to Grips with the Funding Gap

Fri, 30 Oct 2009 11:30:00 EST

PARSIPPANY, N.J., October 30, 2009 - As much as $825 billion in capital could be required to fill a commercial real estate debt funding gap in the United States over the coming years, according to new research from Prudential Real Estate Investors. This capital gap provides a historic opportunity for investors. PREI® is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Bache Global Commodities Group hires Richard Zack

Wed, 28 Oct 2009 00:00:00 EST

NEW YORK - Richard Zack has joined Prudential Bache Global Commodities Group as a senior vice president - investments in the Equity Arbitrage Group in New York. He will be responsible for developing the company’s structured products business.

Prudential Unveils Solution to America’s Retirement-Savings Crisis

Tue, 27 Oct 2009 10:26:00 EST

NEWARK, N.J., October 27, 2009 - Prudential Financial (NYSE: PRU) has launched "Redefining Retirement," a new model for the design, management and administration of workplace-provided retirement plans, raising the bar for the industry by delivering a comprehensive and effective solution to the retirement-savings crisis now plaguing American workers.

Consumers See Life Insurance as a Way to Help Offset the Value of Assets Lost Due to Financial Volatility

Mon, 26 Oct 2009 09:00:00 EST

NEWARK, N.J., October 26, 2009 - Americans believe life insurance can help bridge the gaps for loved ones created by losses in their financial portfolio, according to a report, Renewed Relevancy of Life Insurance in Stormy Economic Times issued by Prudential Financial, Inc.(Prudential), (NYSE: PRU)

Extending Homebuyer Tax Credit Vital to Housing Recovery

Mon, 19 Oct 2009 11:51:00 EST

NEWARK, N.J., October 19, 2009 - The first-time homebuyer tax credit has been vital in stabilizing the U.S. housing market and should be extended by Congress, one of Prudential Financial Inc.’s (NYSE: PRU) top real estate executives said today.

Prudential Annuities garners top awards for record fifth year

Mon, 19 Oct 2009 11:30:00 EST

NEWARK, N.J., October 19, 2009 - Prudential Annuities has won two top awards in the Boomer Market Advisor Readers’ Choice Awards.

Redefined Defined Contribution Plans Key to Strengthening Retirement Security

Mon, 19 Oct 2009 00:00:00 EST

NEWARK, N.J., October 19, 2009 - Redefining defined contribution (DC) plans with autopilot retirement planning, streamlined plan operations, and built-in risk protection for sponsors, will dramatically improve outcomes for plan sponsors and participants, according to a new white paper released today by Prudential Financial (NYSE: PRU).

Prudential Financial Launches Morse Code “SOS” Advertising Campaign

Fri, 16 Oct 2009 13:40:00 EST

NEWARK, N.J., October 16, 2009 - Prudential Financial, Inc. (NYSE:PRU) announced today that it is launching a major advertising campaign highlighting the company’s solutions for businesses facing a variety of challenges in the post-financial crisis environment. The multimillion dollar advertising campaign centers around Prudential answering an "SOS" call from corporations looking for a partner with the financial strength and solutions for their retirement plans, asset management and group life insurance needs.

Workers Worry More about Financial Security Than Health Insurance

Thu, 15 Oct 2009 10:09:00 EST

NEWARK, N.J., October 15, 2009 - People rate job security and “making ends meet” as their top financial concerns, according to a recent report released by Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial, Inc. Board of Directors Adopts Non-Binding “Say on Pay” Shareholder Vote

Tue, 13 Oct 2009 17:25:00 EST

NEWARK, N.J., October 13, 2009 - Prudential Financial, Inc. (NYSE:PRU) announced that its Board of Directors has approved an advisory shareholder vote on executive compensation which will become effective at the company’s annual meeting in 2010.

Prudential Answers Pressing Retirement Questions

Thu, 08 Oct 2009 11:00:00 EST

Should I continue contributing to my workplace retirement plan if my company has terminated the match? Should I continue to rebalance my allocations? What are the implications of starting Social Security early versus delaying payments? These were among more than 250 questions asked of a panel of retirement experts following the “Conversations About Retirement: What Do I Do Now?” webinar earlier this year.

Prudential Chosen as a 100 Best Company By Working Mother Magazine for the 20th Year

Thu, 08 Oct 2009 10:00:00 EST

NEWARK, N.J., October 08, 2009 - For the 20^th year, Prudential Financial, Inc. (NYSE: PRU) has been named one of Working Mother magazine’s 100 Best Companies for its commitment to providing employees with resources and tools to manage their work and personal responsibilities.

James Mallozzi Appointed Chairman and Chief Executive Officer of Prudential Real Estate and Relocation Services

Mon, 05 Oct 2009 01:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE: PRU) announced today that James Mallozzi has been appointed chairman and chief executive officer of Prudential Real Estate and Relocation Services, Inc. (PRERS). Mallozzi will succeed John Van Der Wall, who has decided to retire at the end of the year after 24 years with Prudential.

Statement from Prudential Financial, Inc.

Sun, 04 Oct 2009 21:07:00 EST

NEWARK, N.J., October 04, 2009 - Prudential Financial, Inc. (NYSE:PRU) announced today that it is currently exploring options with regard to its investment and fund management businesses in Korea. These options include a possible sale of either or both of Prudential Investments & Securities Co., Ltd. and Prudential Asset Management Co., Ltd., which are headquartered in Seoul, South Korea. This does not affect Prudential’s life insurance business in Korea: The Prudential Life Insurance Company of Korea, Ltd. (also known as Prudential of Korea or POK).

Prudential Financial to Announce Third Quarter 2009 Earnings; Schedules Conference Call

Wed, 30 Sep 2009 16:00:00 EST

NEWARK, N.J., September 30, 2009 - Prudential Financial, Inc. (NYSE:PRU) will release its third quarter 2009 earnings on Wednesday, November 4, 2009, after the market closes. The earnings news release and the financial supplement will be posted on the company's Investor Relations Web site at: http://www.investor.prudential.com.

MyLegacySM Life Insurance Offers Bank Customers Enhanced Wealth Transfer Benefits and Immediate Coverage

Tue, 29 Sep 2009 09:20:00 EST

NEWARK, N.J., September 29, 2009 - A new single-premium universal life insurance policy, MyLegacySM, issued by Pruco Life Insurance Company (Pruco Life), a Prudential Financial, Inc. (NYSE:PRU) company, is an immediate issue policy that helps provide an easy and efficient way for consumers to purchase coverage and transfer wealth. MyLegacy is the latest life insurance product in the company’s portfolio offered over the Internet through banks and other financial institutions.

Prudential Report Shows Employers, Benefits Budgets Hit Hard by Economy

Thu, 24 Sep 2009 09:00:00 EST

NEWARK, N.J., September 24, 2009 - Employee benefit budgets are not immune to corporate cost cutting, according to a report released today by Prudential Financial, Inc. (NYSE: PRU).

More Than 32,000 People in 12 Countries Will Participate In 15th Annual Prudential Global Volunteer Day

Wed, 23 Sep 2009 11:25:00 EST

NEWARK, N.J., September 23, 2009 - On Saturday, October 3, more than 32,000 Prudential Financial [NYSE:PRU] employees and their families and friends are expected to participate in the company’s 15^th annual Global Volunteer Day by donating their time and talent to community service organizations located all over the world.

Prudential Ranked 25 on the 2009 “Diversity Elite 60” List

Wed, 23 Sep 2009 10:30:00 EST

NEWARK, N.J., September 23, 2009 - Prudential Financial, Inc. (NYSE: PRU) has ranked No. 25 on Hispanic Business magazine's 2009 “Diversity Elite 60" list announced in the September issue of the magazine. According to Hispanic Business magazine, “This year's fifth annual list shows which companies—difficult times notwithstanding—walk the walk when it comes to promoting diversity in its workforce, board leadership, marketing efforts and subcontractors."

New Team Joins PREI® to Expand U.K. Platform

Tue, 22 Sep 2009 12:29:00 EST

Prudential Real Estate Investors has hired a team of real estate professionals to expand its commercial real estate platform in the U.K. and introduce a series of U.K .property funds. The team includes Charles Crowe, Paul Dennis-Jones and Andrew Grigson, part of the core group that managed the U.K. funds sponsored by UBS Global Asset Management.

Prudential and MullinTBG Enhance Total Retirement Solutions Experience

Tue, 22 Sep 2009 10:00:00 EST

LOS ANGELES, September 22, 2009 - With the unpredictability of today’s economic markets affecting the retirement plans of millions of Americans, Prudential Retirement and MullinTBG are meeting the demand for user-friendly tools and resources that provide comprehensive retirement plan access. New Total Retirement Solutions (TRS) compatibility established between the two companies’ benefit platforms enables plan sponsors, participants and advisors alike to easily and more effectively manage all of their qualified and nonqualified benefit programs.

Survey: Finance Executives Plan Changes to Retirement Plans to Reduce Risk and Provide Employees with a More Secure Retirement

Mon, 21 Sep 2009 11:02:00 EST

Nearly half of 140 senior finance executives said in a recent survey that their companies are very or somewhat likely to freeze or terminate their defined benefit retirement plans in the next two years. The survey examined the impact of the financial crisis on how finance executives are managing retirement benefit programs. A report entitled Managing Retirement Benefits Amid Capital Market Disruption outlines the survey findings.

Prudential Mortgage Capital Launches Commercial Real Estate Lending Program in Japan

Mon, 21 Sep 2009 00:00:00 EST

NEWARK, N.J., September 21, 2009 - Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU), has begun offering loans for commercial real estate in Japan.

Prudential Financial, Inc. Announces Completion of Investment by Nippon Life Insurance Company

Fri, 18 Sep 2009 16:05:00 EST

NEWARK, N.J., September 18, 2009 - Prudential Financial, Inc. (NYSE: PRU) announced today the completion of the previously announced sale by The Prudential Insurance Company of America of a $500 million 10-year exchangeable surplus note to Nippon Life Insurance Company. Under the terms of the transaction, Nippon Life can exchange the surplus note for shares of Prudential Financial common stock at any time, at Nippon Life’s option, beginning on the fifth anniversary of issuance of the note.

Prudential Named One of the Best Companies for Latinas

Thu, 17 Sep 2009 11:08:00 EST

NEWARK, N.J., September 17, 2009 - Prudential Financial, Inc. (NYSE:PRU) has earned the No. 6 position in the 2009 LATINA Style 50 report ranking the best companies for Latinas to work for in the United States. This is the 12^th consecutive year the magazine has recognized Prudential for its commitment to fostering an inclusive and supportive workplace for Hispanic women.

Prudential Annuities Names Tim Seifert Vice President and Director of National Sales

Thu, 17 Sep 2009 09:51:00 EST

NEWARK, N.J., September 17, 2009 - Prudential Annuities^SM, the domestic annuity business of Prudential Financial, Inc. (NYSE: PRU), today announced Tim Seifert has joined the company as a vice president and director of National Sales.

Prudential Financial, Inc. Announces Investment by Nippon Life Insurance Company

Wed, 16 Sep 2009 17:02:00 EST

NEWARK, N.J., September 16, 2009 - Prudential Financial, Inc. (NYSE: PRU) announced today that Nippon Life Insurance Company, one of the world’s largest life insurance companies, has signed a definitive agreement to purchase a $500 million 10-year exchangeable surplus note issued by The Prudential Insurance Company of America. The transaction, which is subject to customary conditions, is expected to close on September 18, 2009. Under the terms of the transaction, Nippon Life can exchange the surplus note for shares of Prudential Financial common stock at any time, at Nippon Life’s option, beginning on the fifth anniversary of issuance of the note.

Prudential Calls for Clarity in Retirement Plan Disclosures

Tue, 15 Sep 2009 11:28:00 EST

NEWARK, N.J., September 15, 2009 - Prudential Financial, Inc. today called for government reform of pension plan regulations to guarantee participants disclosures that are relevant, timely and succinct.

Prudential Named to BusinessWeek’s “Best Places to Launch a Career” List

Tue, 15 Sep 2009 09:00:00 EST

NEWARK, N.J., September 15, 2009 - When it comes to launching a career, Prudential Financial, Inc. (NYSE: PRU) is the place to be, according to BusinessWeek magazine.

Americans Cutting Back on Expenses, But Consider Life Insurance a Must

Wed, 09 Sep 2009 10:21:00 EST

NEWARK, N.J., September 09, 2009 - Americans are looking for ways to spend less, but when it comes to life insurance they’re holding on to their policies, according to a recent report entitled, The Value of Life in Tough Economic Times issued by Prudential Financial, Inc. (NYSE: PRU)

18th Annual Prudential CARES Volunteer Grants Program Awards $407,750 in Grants Worldwide

Wed, 09 Sep 2009 10:00:00 EST

NEWARK, N.J., September 09, 2009 - The Prudential Foundation and Prudential Financial, Inc. [NYSE: PRU], recently provided $407,750 in Prudential CARES Volunteer Grants to 627 nonprofit organizations worldwide. The Prudential Foundation grants acknowledged the volunteer service of 562 Prudential associates and retirees in the United States, while the Prudential Financial grants recognized 65 Prudential employees in Brazil, Canada, Ireland, Italy, Japan and South Korea, all who excelled in commitment, leadership and service to their communities. The Prudential CARES Volunteer Grants program recognizes individual and team volunteers who provided a minimum of 40 hours of volunteer service per individual. Grants range from $250 to $5,000 for each award winner’s charitable organization.

15th Annual Search under Way for Nation’s Top Youth Volunteers

Tue, 08 Sep 2009 08:00:00 EST

WASHINGTON, September 08, 2009 - Over the past 14 years, Prudential Spirit of Community Awards have been given to nearly 90,000 middle and high school students across the country for helping the less fortunate, promoting health and safety, protecting the environment, and serving their communities through many other volunteer activities. This week the search begins to identify thousands more who have made meaningful contributions to their communities over the past 12 months, as the prestigious awards program kicks off its 15^th year.

Prudential’s Group Insurance Expands Disability Operations

Thu, 03 Sep 2009 12:30:00 EST

NEWARK, N.J., September 03, 2009 - Prudential Financial, Inc.’s (NYSE:PRU) Group Insurance business announced today the opening of a disability management services office in Scottsdale, Ariz.

Bache Commodities Group Appoints Andy Smith As Senior Metals Strategist

Tue, 01 Sep 2009 00:00:00 EST

NEW YORK/LONDON – Bache Global Commodities Group, the commodities and financial derivatives subsidiary of Prudential Financial, Inc. (NYSE: PRU), today announced the appointment of Andy Smith as Senior Metals Strategist.

Prudential Mortgage Capital Closes $108 Million Loan for Kimco Realty Corporation

Thu, 27 Aug 2009 11:19:00 EST

NEWARK, N.J., August 27, 2009 - Prudential Mortgage Capital Company has closed a $108 million loan on behalf of its general account client for a portfolio of retail properties owned by Kimco Realty Corporation. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Annuities Launches Consumer-Focused Website

Mon, 24 Aug 2009 10:00:00 EST

Investors seeking to learn more about guaranteeing their retirement income now have a new online resource that helps demystify today’s generation of variable annuities and for-fee optional living benefits, Prudential Annuities announced today.

Prudential Updates 'Highest Daily' Annuity Optional Benefits

Mon, 24 Aug 2009 00:00:00 EST

Newark, NJ –Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE:PRU), today adjusted its popular annuity optional benefits, which allow investors to 'lock in' the highest daily value of their annuity contract, for income purposes, each day the market is open.
Highest Daily Lifetime^sm 6 Plus and Spousal Highest Daily Lifetime^sm 6 Plus can be purchased for an additional fee with a variable annuity from Prudential issuing companies.

JennisonDryden Adds Dryden Total Return Bond Fund to Its Asset Allocation Funds

Mon, 17 Aug 2009 09:00:00 EST

NEWARK, N.J., August 17, 2009 - JennisonDryden has added the Dryden Total Return Bond Fund (PDBAX) to the fixed-income allocation of its full line-up of JennisonDryden Asset Allocation Funds. Dryden Total Return Bond Fund offers investors access to a well-diversified, risk-managed portfolio of bonds. JennisonDryden is the proprietary mutual fund family of Prudential Financial, Inc. (NYSE: PRU).

Prudential Mortgage Capital Closes $139 Million Loan for Federal Realty Investment Trust

Tue, 11 Aug 2009 09:00:00 EST

Prudential Mortgage Capital Company has closed a $139 million loan for a portfolio of retail properties owned by Federal Realty Investment Trust (NYSE:FRT). The portfolio consists of four Virginia grocery-anchored properties in Arlington, Falls Church and Leesburg.

PREI® Releases Quarterly Global Real Estate Outlooks

Mon, 10 Aug 2009 09:00:00 EST

Prudential Real Estate Investors has released its midyear outlooks on real estate markets in the United States, Europe, Latin America and Asia.

Prudential Financial, Inc. Announces Second Quarter 2009 Results; Updates 2009 Earnings Guidance

Wed, 05 Aug 2009 16:05:00 EST

NEWARK, N.J., August 05, 2009 - Prudential Financial, Inc. (NYSE:PRU) today reported net income of its Financial Services Businesses attributable to Prudential Financial, Inc. of $538 million ($1.25 per Common share) for the second quarter of 2009, compared to $566 million ($1.32 per Common share) for the year-ago quarter. After-tax adjusted operating income for the Financial Services Businesses was $817 million ($1.88 per Common share) for the second quarter of 2009, compared to $845 million ($1.96 per Common share) for the second quarter of 2008. Adjusted operating income is a non-GAAP measure as discussed below.

CFOs Recalibrating Their Approach to Risk Management

Fri, 31 Jul 2009 15:21:00 EST

For Corporate America’s chief financial officers, this is a time of considerable focus on fundamental credit and risk management principles. Finance executives’ new perspectives on credit and risk emerging from the financial crisis will help ensure that the recovery of the economy is durable and sustainable, contends the chief operating officer of Prudential's U.S. businesses.

Margaret M. Foran Joins Prudential as Chief Governance Officer and Secretary

Fri, 31 Jul 2009 12:33:00 EST

NEWARK, N.J., July 31, 2009 - Margaret M. Foran has joined Prudential Financial, Inc. (NYSE: PRU), as vice president, Chief Governance Officer and Secretary. In this position, Foran will be responsible for working with the Board of Directors to continue to strengthen Prudential’s governance principles and practices and will report to Susan Blount, senior vice president and General Counsel at Prudential.

Prudential Real Estate and Relocation Appoints New Senior Management for its Canadian Operations

Tue, 28 Jul 2009 04:00:00 EST

IRVINE, Calif. – Prudential Real Estate and Relocation Services, Inc., a business of Prudential Financial Inc. (NYSE: PRU), appointed new senior management for its Canadian operations as part of its efforts to strengthen its long-standing presence in the relocation industry in Canada.

First-Quarter ’09 Bank Insurance Brokerage Fee Income

Tue, 28 Jul 2009 00:00:00 EST

FOR IMMEDIATE RELEASE – Radnor, PA, July 28, 2009 – First-quarter bank holding company (BHC) insurance brokerage income of $3.03 billion was up 15.0% from $2.63 billion in fourth quarter 2008, which marked the lowest point of quarterly insurance income since 2005, according to the Michael White-Prudential Bank Fee Income Report™ (2009 Edition). Despite this increase, BHC insurance brokerage fee income declined 5.7% to $3.03 billion in first quarter 2009, down from a then-record $3.21 billion in first quarter 2008. Thus far in 2009, 59.9% of BHCs engaged in insurance brokerage activities.

Prudential Retirement Calls for Stable Value Funds to Classify as a Qualified Default Investment Alternative

Wed, 22 Jul 2009 12:53:00 EST

In testimony before the U.S. Department of Labor’s ERISA Advisory Council today, James King, Jr., vice president and head of Prudential Retirement’s Stable Value Markets Group, urged that stable value products be classified as a qualified default investment alternative (QDIA) in employee retirement plans.

Prudential Webinar: Strategies to Rebuild Retirement Savings

Tue, 21 Jul 2009 09:47:00 EST

NEWARK, N.J., July 21, 2009 - Real questions from real Americans formed the basis of Prudential’s latest webinar for financial advisors, Conversations About Retirement: What Do Your Clients Really Want to Know?

Americans Need a Safe Harbor to Weather Financial Storms

Mon, 20 Jul 2009 11:07:00 EST

NEWARK, N.J., July 20, 2009 - Retirement savers need access to safe investment options within defined contribution plans as underscored by a 2009 Prudential Financial (NYSE: PRU) research study on near-retirees and retirees. The study shows that:

30% of near-retirees have postponed their retirement due to the market decline;

30% of near-retirees have reallocated their 401(k) assets, with nine in 10 of this group moving into more conservative investments; and,

More than 80% of near-retirees say they are more cautious and wish they had the option of better protecting their assets from market losses.

PREI® Enters New Joint Venture with GEO to Develop Megaprojects Communities in Mexico

Thu, 09 Jul 2009 09:37:00 EST

Prudential Real Estate Investors has formed a new 10-year joint venture with Corporación GEO, S.A.B. de C.V., to invest in land and develop megaprojects that will create urbanized land for real estate developers of all sizes.

Prudential Bache Commodities Hires Commodities and Financial Futures Veterans

Wed, 01 Jul 2009 14:00:00 EST

NEW YORK, July 01, 2009 - Prudential Bache Commodities LLC, a business of Prudential Financial, Inc. (NYSE: PRU), has hired a team of commodities and financial futures veterans for its New York-based team.

Prudential Calculator Computes Renters’ Home-Purchasing Power

Wed, 01 Jul 2009 09:00:00 EST

IRVINE, Calif., July 01, 2009 - If you’ve ever wondered how much house you can afford, Prudential can tell you in a flash.

Bache Commodities Group Launches Green Commodity Index

Tue, 30 Jun 2009 00:00:00 EST

NEW YORK & LONDON--Bache Commodities Group launched today the Bache Commodity Green IndexSM (BCGISM) to offer investors a tool to invest in commodities with an environmental focus. Bache Commodities Group is the commodities and financial derivatives business of Prudential Financial, Inc. (NYSE:PRU). The group has been an active participant in the commodities market for 120 years.

Prudential Financial to Announce Second Quarter 2009 Earnings; Schedules Conference Call

Wed, 24 Jun 2009 17:05:00 EST

NEWARK, N.J., June 24, 2009 - Prudential Financial, Inc. (NYSE:PRU) will release its second quarter 2009 earnings on Wednesday, August 5, 2009, after the market closes. The earnings news release and the financial supplement will be posted on the company's Investor Relations Web site at: http://www.investor.prudential.com.

Bache Commodities Group Grows FX Prime Brokerage Team

Mon, 22 Jun 2009 13:30:00 EST

Bache Commodities Group, a subsidiary of Prudential Financial, Inc. (NYSE:PRU), continues to expand its FX Prime Brokerage activities with the addition of key sales and middle office professionals.

Prudential Named Relocation Provider of the Year

Mon, 22 Jun 2009 09:00:00 EST

NEWARK, N.J., June 22, 2009 - Prudential Real Estate and Relocation Services, Inc. was named Relocation Provider of the Year at the annual Re:locate Awards, which honor companies and individuals involved in relocation.

Understanding the Impact of Working in Retirement

Thu, 18 Jun 2009 09:30:00 EST

NEWARK, N.J., June 18, 2009 - Millions of Americans who looked forward to a leisurely retirement may be forced to work now that the turbulent financial markets have wiped out nearly $2 trillion of retirement savings.

IDG’s Computerworld Names Prudential to Annual List of Best Places to Work in Information Technology

Mon, 15 Jun 2009 12:53:00 EST

NEWARK, N.J., June 15, 2009 - Prudential Financial, Inc. (NYSE: PRU) announced today that it has been selected by IDG’s Computerworld as one of the top 100 places to work for information technology (IT) professionals.

Prudential Mortgage Capital Closes $103 Million Loan for Weingarten Realty Investors

Thu, 11 Jun 2009 11:00:00 EST

NEWARK, N.J., June 11, 2009 - Prudential Mortgage Capital Company has closed a $103 million loan on behalf of its general account for a portfolio of retail properties owned by Weingarten Realty Investors (NYSE:WRI). The portfolio consists of four grocery-anchored retail centers located in California and New Mexico. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

Dr. Quincy Krosby Joins Prudential Annuities as Chief Market Strategist

Thu, 11 Jun 2009 10:00:00 EST

Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE:PRU), today announced that Dr. Quincy Krosby has joined the firm as Chief Market Strategist, a newly-created position. She will report to Timothy Cronin, head of Investment Management for Prudential Annuities. In this role, she will provide perspective on the financial markets and the economy to financial professionals, clients and individual investors across the country.

Prudential Rebrands Commercial Brokerage Operation as Prudential Commercial Real Estate

Thu, 11 Jun 2009 09:00:00 EST

IRVINE, Calif., June 11, 2009 - Prudential Real Estate and Relocation Services, Inc. renamed its commercial brokerage franchise division as part of its efforts to bolster its presence in the commercial real estate marketplace, and appointed a new executive to run the business.

Bache Commodities Commences Carbon and Emissions Trading

Thu, 11 Jun 2009 00:00:00 EST

LONDON, U.K. – Bache Commodities, the commodities and financial derivatives subsidiary of Prudential Financial, Inc. (NYSE:PRU), one of the world’s leading financial services companies, today announced that it has established a Carbon and Emissions trading desk and commenced trading. The new Carbon and Emissions desk is headed by Andrew Ager, who joined Bache Commodities in January from MF Global, where he was responsible for the Power and Emissions desk. Andrew Ager is on the Markit BlueNext Environmental Indices Oversight Committee and previously worked for Ulster Bank and AIB Capital Markets.

Prudential Financial, Inc. to Participate in J.P. Morgan Investment Portfolio Call

Wed, 10 Jun 2009 14:51:00 EST

NEWARK, N.J., June 10, 2009 - Prudential Financial, Inc. (NYSE: PRU) will participate in J.P. Morgan’s Investment Portfolio Conference Call on Monday, June 15, 2009, at approximately 12:00 p.m. (ET). Mark Grier, Prudential Financial, Inc.’s Vice Chairman, and Bernard Winograd, Executive Vice President, U.S. Businesses, will discuss the company’s investment portfolio.

Nonqualified Deferred Compensation Plans as Popular as Ever, According to 2008 MullinTBG/PLANSPONSOR Survey

Tue, 09 Jun 2009 09:40:00 EST

LOS ANGELES, June 09, 2009 - Continued popularity of voluntary nonqualified deferred compensation plans (NQDCPs) in 2008 indicate that providing talented executives with attractive financial benefits is as relevant in a booming economy as in times of market woe. More than 90% of employers in a newly released survey of public and private U.S. companies offer this type of executive benefit to key employees, the same results as reported a year ago.

PREI® Establishes High Yield Debt Platform

Mon, 08 Jun 2009 00:00:00 EST

Prudential Real Estate Investors is establishing a new global high yield debt investment platform that will serve institutional clients worldwide. The business will initially focus on the U.S. and Europe and has recently issued reports examining deleveraging trends in real estate.

Prudential Financial, Inc. Completes Public Offerings of Common Stock and Senior Debt Securities

Mon, 08 Jun 2009 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today announced that it has completed a public offering of 36,858,975 shares of its common stock which includes 4,807,692 shares of common stock issued pursuant to the exercise in full of the underwriters’ option to purchase additional shares. In addition, the company announced today the completion of a $1 billion public offering of senior debt securities in the form of its medium-term notes, Series D. The common stock and debt offerings resulted in aggregate net proceeds to the company of approximately $2.4 billion.

Prudential Financial is a Top Company for Diverse Graduates

Thu, 04 Jun 2009 10:15:00 EST

NEWARK, N.J., June 04, 2009 - Prudential Financial, Inc. (NYSE: PRU) is a great place for diverse graduates according to Diversity Edge Magazine. Once again, the publication has named Prudential as one of the best companies for diverse graduates as part of the magazine’s 2009 top 20 best companies list. Prudential placed number 14 on the list that recognizes companies that have shown leadership in recruiting, retaining, and advancing the careers of diverse professionals. Diversity Edge Magazine is a publication dedicated to addressing issues pertaining to career and business diversity.

Target-Date Funds Require Strengthening

Wed, 03 Jun 2009 09:47:00 EST

NEWARK, N.J., June 03, 2009 - Target-date funds, the default investment option within many 401(k) retirement plans, are coming up short, according to a white paper released by Prudential Retirement today. Many individuals who planned to retire in the next five years and invested in target-date funds have lost a significant portion of their retirement assets, and may not be able to retire as planned.

Prudential Financial, Inc. Prices Common Stock Offering

Tue, 02 Jun 2009 22:18:00 EST

NEWARK, N.J., June 02, 2009 - Prudential Financial, Inc. (NYSE:PRU) today announced that it has priced a public offering of 32,051,283 shares of its common stock at $39 per share. The underwriters will have a 30-day option to purchase up to an additional 4,807,692 shares of common stock from the company. The offering is expected to close on June 8, 2009.

Employ Social Security Strategies as Part of Retirement Planning

Tue, 02 Jun 2009 09:15:00 EST

NEWARK, N.J., June 02, 2009 - Social Security is the single biggest retirement asset for millions of Americans. Given the demise of the traditional pension plan, plus the fact that Social Security income is adjusted annually for inflation, the decision regarding when to start taking Social Security is more critical than ever.

Statement by Prudential Financial, Inc.

Mon, 01 Jun 2009 06:07:00 EST

Prudential Financial, Inc. Announces $1.25 Billion Common Stock Offering

Mon, 01 Jun 2009 06:06:00 EST

NEWARK, N.J. - Prudential Financial, Inc. (NYSE:PRU) today announced that it has commenced a public offering of $1.25 billion of its Common Stock. Citi and Goldman, Sachs & Co. will serve as joint bookrunning managers for the offering. The underwriters will have a 30-day option to purchase up to an additional 15% of the offered amount of Common Stock from the company.

Prudential Receives a Healthcare Advantage Award

Thu, 28 May 2009 10:00:00 EST

NEWARK, N.J., May 28, 2009 - Prudential Financial, Inc. (NYSE: PRU) received a 2009 Healthcare Advantage Award from Thomson Reuters for the use of data to better understand and address health care disparities in its employee population. Dr. Andrew Crighton, Prudential’s chief medical officer, accepted the award at the Healthcare Advantage Conference held in San Diego, CA.

JennisonDryden Launches New Resource For Investment Research Analysts

Thu, 28 May 2009 00:00:00 EST

NEWARK, N.J.—JennisonDryden has launched a new website connecting investment analysts with attribution reports, commentaries, profiles and fact sheets for the fund family. The information provided is suitable for due diligence analysis by broker/dealers, gatekeepers and other licensed financial professionals.

Guaranteed Retirement Income Key as Social Security Fund Declines, According to Christine Marcks, President of Prudential Retirement

Tue, 26 May 2009 10:31:00 EST

NEWARK, N.J., May 26, 2009 - The potential for the Social Security system to run out of funds by 2037 underscores the importance of having additional sources of guaranteed income during retirement, according to Christine Marcks, President of Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU).

Prudential Named One of America’s Best Adoption-Friendly Workplaces

Wed, 20 May 2009 10:00:00 EST

NEWARK, N.J., May 20, 2009 - For the third consecutive year, the Dave Thomas Foundation for Adoption has ranked Prudential Financial, Inc. (NYSE: PRU) on the “100 Best Adoption-Friendly Workplaces in America” list. According to the Foundation, more than 129,000 children in foster care are available for adoption in the United States and most will spend nearly four years in the system before they are adopted.

Statement from Prudential

Fri, 15 May 2009 12:08:00 EST

NEWARK, N.J., May 15, 2009 - Prudential Financial, Inc. (NYSE: PRU) confirmed today that it has received preliminary approval from the U.S. Department of the Treasury to participate in the Capital Purchase Program (CPP). Prudential, which applied to participate in the CPP last October, is currently evaluating all options available to the company.

Shareholders Approve Reorganization of the High Yield Income Fund, Inc., and the High Yield Plus Fund, Inc., into the Dryden High Yield Fund, Inc.

Fri, 15 May 2009 05:01:00 EST

NEWARK, N.J., May 15,2009 - Shareholders have approved the proposed reorganization of two closed-end funds--The High Yield Income Fund, Inc. (NYSE: HYI) and the High Yield Plus Fund, Inc. (NYSE:HYP)--into the open-end Dryden High Yield Fund, Inc. (collectively, the "Funds.").

Longevity Should Have a Prominent Place in Any Retirement Plan

Fri, 08 May 2009 10:00:00 EST

NEWARK, N.J., May 08, 2009 - In 1935, when Social Security was enacted, life expectancy at birth was 62 years. Fast-forward 70 years and the average life expectancy in 2005 reached 78. That’s 16 more years—most of which will likely be spent in retirement—so longevity must play a key role in a retirement plan.

Prudential Financial, Inc. Announces First Quarter 2009 Results; Updates 2009 Earnings Guidance

Wed, 06 May 2009 16:08:00 EST

NEWARK, N.J., May 06, 2009 - Prudential Financial, Inc. (NYSE:PRU) today reported a net loss of its Financial Services Businesses attributable to Prudential Financial, Inc. of $5 million for the first quarter of 2009, compared to net income attributable to Prudential Financial, Inc. of $68 million for the year-ago quarter. Net income per Common share was 1 cent for the first quarter of 2009 and 18 cents for the year-ago quarter. After-tax adjusted operating income for the Financial Services Businesses was $436 million ($1.05 per Common share) for the first quarter of 2009, compared to $692 million ($1.57 per Common share) for the first quarter of 2008. Adjusted operating income is a non-GAAP measure as discussed below.

America’s Top Ten Youth Volunteers Named in 14th Annual Prudential Spirit of Community Awards

Mon, 04 May 2009 10:00:00 EST

WASHINGTON, May 04, 2009 - For their extraordinary efforts in serving others through volunteerism, ten middle and high school students from across the country were named America’s top ten youth volunteers for 2009 today in a ceremony at the U.S. Chamber of Commerce headquarters, capping the 14^th year of The Prudential Spirit of Community Awards.

Mercer to Make Available Prudential’s IncomeFlex® TargetSM

Wed, 29 Apr 2009 10:55:00 EST

NEWARK, N.J., April 29, 2009 - Prudential Retirement and Mercer announced today they have entered into a service agreement through which Mercer will make Prudential’s IncomeFlex® Target^SM (IFX Target) available to its defined contribution (DC) clients. IFX Target is designed to provide guaranteed, lifelong income to retirement plan participants and protect against turbulent financial markets.

Prudential Retirement Partners with Hewitt Associates to Offer Prudential’s IncomeFlex® TargetSM

Wed, 29 Apr 2009 10:55:00 EST

NEWARK, N.J., April 29, 2009 - Prudential Retirement announced today it has entered into an agreement with Hewitt Associates, a human resources consulting and outsourcing company, to make Prudential’s IncomeFlex^®Target^SM (IFX Target) available to its new and existing retirement plan clients.

JennisonDryden to Reopen Jennison Health Sciences Fund

Wed, 22 Apr 2009 09:00:00 EST

JennisonDryden has reopened the Jennison Health Sciences Fund (Class A: PHLAX) to all investors, effective immediately. The Lipper Award-winning fund has been closed to most new investors since July 2005

Prudential Boosts Grants to City of Hartford for Job Creation, Arts, and Education

Wed, 22 Apr 2009 09:00:00 EST

NEWARK, N.J., April 22, 2009 - Prudential Retirement and The Prudential Foundation awarded more than $800,000 in strategic contributions and grants respectively, in support of education, economic development, arts and culture infrastructure throughout the Greater Hartford area in 2008. Prudential Retirement, located in Hartford, is a business unit of Prudential Financial Inc. (NYSE: PRU)

Factor Inflation into Retirement Planning

Mon, 20 Apr 2009 10:00:00 EST

NEWARK, N.J., April 20, 2009 - A dollar today won’t be a dollar tomorrow, it may be more like 50 cents. “No retirement income planning strategy would be complete without considering inflation risk,” said Robert Fishbein, vice president and corporate counsel in Prudential Financial’s Tax Department.

Prudential Retirement Sweeps Top Honors for Retirement Plan Communications

Mon, 20 Apr 2009 09:59:00 EST

NEWARK, N.J., April 20, 2009 - Prudential Retirement was ranked first among its peers in offering plan participants, plan sponsors and financial consultant communications that best meet their needs.

Series offers tips to help achieve a secure retirement in turbulent times

Fri, 17 Apr 2009 00:00:00 EST

Prudential Financial Selects Winner of 2009 Hampton University Business Case Competition

Tue, 14 Apr 2009 14:00:00 EST

NEWARK, N.J.,- April 14, 2009 - Prudential Financial, Inc. (NYSE: PRU) selected the top place finisher of its 2009 Business Case Competition. Graduate and undergraduate teams in this year’s competition -- held in collaboration with Hampton University’s School of Business-were asked to develop a strategy which would expand the distribution of life insurance from a product sold to consumers through traditional distribution sources, to one they are motivated to purchase independently.

Prudential Mortgage Capital Arranges $756 Million FHA Loan for Trenton Area Hospital

Mon, 13 Apr 2009 11:51:00 EST

NEWARK, N.J., April 13, 2009 - Prudential Mortgage Capital Company has arranged a $756 million construction loan for a new hospital in Hopewell Township, N.J., the largest in Federal Housing Administration history. Prudential’s (NYSE: PRU) FHA-lending business Prudential Huntoon Paige, arranged the loan through the FHA’s Section 242 Hospital Mortgage Insurance program.

Prudential Cracks the Code on “Income Gap” in Target-Date Funds

Mon, 13 Apr 2009 11:02:00 EST

NEWARK, N.J., April 13, 2009 - Prudential Retirement today debuted a new retirement-plan solution specifically designed to deliver guaranteed lifetime income, downside income protection, and growth potential for individuals with assets in target-date or life-cycle funds, or in asset-allocation programs.

JennisonDryden Funds Honored for Performance

Fri, 03 Apr 2009 13:00:00 EST

Three JennisonDryden mutual funds won awards based on consistent investment performance at Lipper’s annual mutual fund awards ceremony.

Prudential Named a “Top 50 Company for Diversity”

Fri, 03 Apr 2009 10:00:00 EST

NEWARK, N.J., April 03, 2009 - Prudential Financial, Inc. (NYSE: PRU) was named one of the “Top 50 Companies for Diversity” by DiversityInc, which for the ninth consecutive year, recognized Prudential for consistent strength in four areas: CEO commitment, human capital, corporate and organizational communications and Supplier Diversity. DiversityInc also acknowledged Prudential for its strong community philanthropy and work/life programs.

When It Comes to Retirement Planning, Look Beyond the ‘Number’

Tue, 31 Mar 2009 09:00:00 EST

NEWARK, N.J., March 31, 2009 - Today’s challenging economic environment has forced many Americans to review their retirement planning goals with a more critical eye. To help navigate through these turbulent times, Robert Fishbein, vice president and corporate counsel with Prudential, offers the first in a biweekly series of tips on planning for retirement.

Prudential Financial to Announce First Quarter 2009 Earnings; Schedules Conference Call

Fri, 27 Mar 2009 13:49:00 EST

NEWARK, N.J., March 27, 2009 - Prudential Financial, Inc. (NYSE: PRU) will release its first quarter 2009 earnings on Wednesday, May 6, 2009, after the market closes. The earnings news release and the financial supplement will be posted on the company's Investor Relations Web site at: http://www.investor.prudential.com.

Prudential Enhances Relocation Service Delivery Worldwide

Fri, 27 Mar 2009 09:00:00 EST

SCOTTSDALE, Ariz., March 27, 2009 - As emerging markets force businesses to quickly adapt to global opportunities, Prudential Real Estate and Relocation Services , Inc. is focused on delivering best-in-class solutions to help them achieve their goals of deploying talent successfully. The company’s new management strategy for its international operations, announced today, is designed to help companies better manage their relocation programs in this increasingly competitive market.

Prudential Named a Top Company for Women Executives

Mon, 23 Mar 2009 10:03:00 EST

NEWARK, N.J., March 23, 2009 - Prudential Financial, Inc. (NYSE: PRU) has earned a spot on the 2009 “Top 50 Companies for Executive Women” list. This is the eighth year that Prudential has received this recognition from the National Association for Female Executives for its practices and policies that advance the careers of women.

The Prudential Foundation Board Approves $2.9 Million in Grants to Nonprofits

Mon, 23 Mar 2009 08:05:00 EST

The Board of Trustees for The Prudential Foundation, a not-for-profit 501(c) 3 organization, recently approved $2.9 million in grants to five organizations that are working to address needs in communities around the country.

Women's Affordable Housing Network Announces New Advisory Board

Tue, 17 Mar 2009 00:00:00 EST

ATLANTA, GA – The Women’s Affordable Housing Network, a networking organization for women in the affordable housing industry, recently formed its first advisory board to add direction and growth to the organization. Prudential Mortgage Capital Company, the commercial lending business of Prudential Financial, Inc. (NYSE: PRU) and Progressive Redevelopment, Inc. (PRI), an Atlanta-based non-profit group specializing in affordable housing, first launched the group in January 2007 to offer an outlet for professional women to discuss issues, achievements and objectives in a supporting environment.

Prudential Financial, Inc. Renews Shelf Registration Statement

Wed, 11 Mar 2009 17:07:00 EST

NEWARK, N.J., March 11, 2009 - Prudential Financial, Inc. (NYSE: PRU) announced today that it filed a universal shelf registration statement with the Securities and Exchange Commission as a routine renewal of its existing shelf registration statement which was to expire on March 16, 2009 after a 3-year term.

Prudential Hires Clifford Axelson to Expand Services for Institutional Investors

Tue, 03 Mar 2009 13:37:00 EST

Prudential Financial Inc. has named Clifford Axelson, a former senior vice president for Callan Associates, a managing director for its growing Strategic Solutions Group, responsible for working closely with institutional investors.

Prudential Long-Term Care Product Simplifies Decisions

Tue, 03 Mar 2009 09:27:00 EST

NEWARK, N.J., March 03, 2009 - If all the complexities involved in selecting long-term care insurance are scaring you off, Prudential has a way out of the maze. Prudential today introduced a simpler long-term care insurance product with few options to confuse the decision-making process.

Prudential Financial Subsidiary Signs Definitive Agreement to Serve as Reorganization Sponsor for Yamato Life

Mon, 02 Mar 2009 08:15:00 EST

Prudential Financial, Inc. announced today that its subsidiary, Gibraltar Life, has signed a definitive agreement to serve as reorganization sponsor for Yamato Life, a small life insurance company in Japan that declared bankruptcy in October 2008.

Prudential Enhances Popular Annuity Optional Benefits

Tue, 24 Feb 2009 14:18:00 EST

Prudential Annuities this week expanded the availability and boosted the minimum income guarantees of its most popular suite of options available with its variable annuities.

PRU: Market Turmoil Provides Challenges, Opportunities for Institutional Investors

Wed, 18 Feb 2009 09:30:00 EST

A new report from Prudential Investment Management says institutional investors should be well positioned to capitalize on the current market turmoil. But to succeed they need to re-examine their portfolio strategy, risk management processes, and how they select investment managers.

Retirement Webinar Helps Investors Manage Through The Economic Crises

Tue, 17 Feb 2009 00:00:00 EST

NEWARK, N.J. --  Facing increasingly turbulent markets and mounting losses in retirement portfolios, American investors are scrambling for information to help get their retirement plans back on track and rebuild their personal savings.  Prudential Financial’s webinar, Conversations About Retirement: What Do I Do Now? offers practical insights and tips from Prudential, AARP and The Money Coach^TM.  

Prudential Retirement Selected by New York MTA

Thu, 12 Feb 2009 12:22:00 EST

Prudential Financial Inc. (NYSE: PRU) said today that the New York Metropolitan Transportation Authority (MTA) has selected Prudential Retirement as the new third party service provider of the agency’s Deferred Compensation and 401(k) plans. Under the terms of the agreement, Prudential Retirement will service $2 billion in total combined plan assets and will deliver retirement planning services to over 47,000 participants. Prudential Retirement is a business of Prudential Financial Inc.

JennisonDryden Adopts XBRL to Report Mutual Fund Information

Tue, 22 Jan 2008 00:00:00 EST

NEWARK, N.J.- JennisonDryden Mutual Funds announced today that it has adopted the use of eXtensible Business Reporting Language (XBRL) to provide information about its funds in filings submitted to the Securities and Exchange Commission. JennisonDryden is Prudential Financial Inc.’s (NYSE: PRU) proprietary mutual fund family.

PRUDENTIAL CAN HELP AMERICANS CREATE A RETIREMENT INCOME PROGRAM AND GUARANTEE IT FOR LIFE The Retirement Income Company Leads the Way

Wed, 16 Jan 2008 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today urged Americans who are thinking about retiring in the next few years to consider a whole new approach to turning their hard-earned retirement savings into a lifetime of income. As the first wave of America’s 76 million Baby Boomers embark on their latest life adventure – retirement – they will face the responsibility of converting their savings into a paycheck while still making their nest egg grow – a challenge complicated by the ongoing volatility in the marketplace. Based on the unique perspective gained in its 132-year history in managing money, risk, and mortality, Prudential suggests Boomers require a radical, fresh method to generating income while living in retirement.

Prudential Mortgage Capital Closes $19.5 Million Loan for Mountain Crest

Thu, 10 Jan 2008 00:00:00 EST

DENVER – Prudential Mortgage Capital Company announced today that it has closed a $19.5 million loan on behalf of its structured loan program for Mountain Crest in Denver, Colo. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). 

PRUDENTIAL REAL ESTATE TO PARTICIPATE IN YAHOO! REAL ESTATE’S NEW LISTINGS PROGRAM

Thu, 10 Jan 2008 00:00:00 EST

IRVINE, Calif. – Prudential Real Estate Affiliates, Inc., a Prudential Financial (NYSE:PRU) company, announced today that it will participate in Yahoo! Real Estate’s new, online property listings program. The agreement will enable Prudential Real Estate’s affiliate companies to market their full catalog of property listings on Yahoo! Real Estate, and to capitalize on leading interactive marketing services. 

PRUDENTIAL FINANCIAL TO HOST 2008 NEW YORK INVESTOR DAY

Wed, 09 Jan 2008 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) will host a conference for analysts and investors in New York City, on Thursday, December 4, 2008. Further details will be announced closer to the date of the meeting. For more information, please write to investor.relations@prudential.com.

PRUDENTIAL GROUP INSURANCE LIFE PRODUCT PROFESSIONAL AVAILABLE TO DISCUSS VOLUNTARY BENEFITS TRENDS AND ISSUES

Mon, 07 Jan 2008 00:00:00 EST

Newark, NJ – In an environment where financial burdens are shifting to individuals, and away from the government and employers, voluntary benefits are of increased importance to Americans. Increased financial burdens -- the debate about the future viability of government programs such as Social Security and Medicare, declining pensions and the growing affordability crisis are all top of mind for employers and employees when it comes to attaining financial security. The Prudential Insurance Company of America, Newark, NJ (Prudential), executive James Gemus, vice president of Life Product Management, Group Insurance, is available to address recent trends and issues involving Employee Benefits - with particular focus on voluntary benefits. Specifically he can comment on:

PRUDENTIAL FINANCIAL TO ANNOUNCE FOURTH QUARTER 2007 EARNINGS; SCHEDULES CONFERENCE CALL

Fri, 04 Jan 2008 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) will release its fourth quarter 2007 earnings on Wednesday, February 6, 2008, after the market closes. The earnings news release and the financial supplement will be posted on the company's Investor Relations Web site at: http://www.investor.prudential.com.

PRUDENTIAL’S ‘ROCK YER BRAIN’ TRIVIA RINGS IN THE NEW YEAR ON ‘SPECTACULAR’ TIMES SQUARE SIGN

Fri, 28 Dec 2007 00:00:00 EST

What:

When was the first Times Square celebration? What was the original name of Times Square? What did the first New Year’s ball weigh?

These are just some of the 90 trivia questions that will run on Prudential Financial’s (NYSE:PRU) Spectacular Times Square sign on New Year’s Eve. The ‘Rock Yer Brain’ trivia will test onlooker’s knowledge of such topics as history, pop culture, and the annual New Year’s celebration in New York City’s Times Square.

Working in Retirement?

Thu, 20 Dec 2007 00:00:00 EST

Newark, NJ – With today’s longer life expectancies, fewer Americans can afford to rely on their personal savings for 20, 30, or more years in retirement. Whether they need money, simply enjoy working, or both, many Baby Boomers are finding the bright line between the working years and retirement years morphing into a continuum – a gradual progression from more work time to more leisure time – or alternating periods of work and leisure.

PRUDENTIAL LAUNCHES MYTERM, INTERNET-BASED TERM LIFE INSURANCE

Wed, 19 Dec 2007 00:00:00 EST

Newark, N.J.—Prudential Financial, Inc. (NYSE:PRU) today introduced MyTerm^SM, a simplified issue term life insurance policy available through the Internet to customers of select banks and other financial institutions. Through a completely online and automated process that can be accessed from virtually anywhere, MyTerm^SM can deliver a policy in about 10 minutes to qualified customers that may then be saved electronically or printed locally.

PRUDENTIAL MORTGAGE CAPITAL CLOSES $80.3 MILLION LOAN FOR BROOKDALE SENIOR LIVING

Tue, 18 Dec 2007 00:00:00 EST

DALLAS - Prudential Mortgage Capital Company announced today that it has closed a $80.3 million loan on behalf of its general account for Brookdale Senior Living. The portfolio consists of five assisted living, memory care and skilled nursing facilities in Ohio, Texas, Kansas and Kentucky. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). 

PRUDENTIAL CAPITAL GROUP NAMES NEW HEAD OF COMMERCIAL ASSET FINANCE BUSINESS

Tue, 18 Dec 2007 00:00:00 EST

ATLANTA – Prudential Capital Group, an investment business of Prudential Financial, Inc., (NYSE: PRU), announced today that it has named Robert L. Penfold managing director of its Commercial Asset Finance group. Penfold, a 25-year veteran of the finance and leasing industry, will oversee the Prudential Capital Group’s commercial asset finance business, which was acquired in February 2007, and located in Atlanta, Georgia. 

PRUDENTIAL FINANCIAL, INC. ANNOUNCES 2006 RESULTS; INCREASES 2007 EARNINGS GUIDANCE

Wed, 12 Dec 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today announced that it closed its previously announced private placement pursuant to Rule 144A under the Securities Act of 1933, as amended, of $2.0 billion aggregate principal amount of Floating Rate Convertible Senior Notes due December 12, 2036.

PRUDENTIAL FINANCIAL SETTLEMENTS IN GROUP INSURANCE REGULATORY INVESTIGATIONS

Wed, 12 Dec 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE: PRU) confirmed today that its subsidiary, The Prudential Insurance Company of America, has reached separate settlements with the New York Attorney General and California Department of Insurance in connection with their investigations into regulatory matters involving its Group insurance business.

PRUDENTIAL FINANCIAL, INC. ANNOUNCES PRICING OF $2.0 BILLION OFFERING OF CONVERTIBLE DEBT

Sat, 08 Dec 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today announced that it had priced a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended, of $2.0 billion aggregate principal amount of convertible senior notes due 2036. The initial purchasers also have an option to purchase an additional $300 million aggregate principal amount of the convertible notes solely to cover their overallotments. The sale of the convertible notes is expected to close on December 12, 2006, subject to customary closing conditions.

PRUDENTIAL FINANCIAL, INC. ANNOUNCES $2.0 BILLION OFFERING OF CONVERTIBLE DEBT

Fri, 07 Dec 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today announced the offering of $2.0 billion aggregate principal amount of convertible senior notes due 2036 pursuant to Rule 144A under the Securities Act of 1933, as amended. Prudential Financial has granted the initial purchaser of the convertible notes an overallotment option to purchase up to an additional $300 million aggregate principal amount of the convertible notes. 

PRUDENTIAL FINANCIAL ANNOUNCES 2007 EARNINGS GUIDANCE AND 2007-2009 RETURN ON EQUITY GOALS

Wed, 05 Dec 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) announced today 2007 earnings per share guidance and return on equity goals for 2007 – 2009 at its Investor Day conference in New York City. Management stated its expectation that Prudential Financial would achieve Common Stock earnings per share in the range of $6.60 to $6.80 for 2007, based on after-tax adjusted operating income of the Financial Services Businesses. Management further stated its target for expansion of return on equity to a range of 15 percent to 17 percent for the 2007 – 2009 period. The 2007 earnings per share expectation assumes appreciation in the S&P 500 Index of 8 percent for the year and a number of additional factors that are in the company’s Current Report on Form 8-K dated December 5, 2006 filed earlier today with the Securities and Exchange Commission, which also relate to the return on equity target range. The return on equity target range is based on after-tax adjusted operating income of the Financial Services Businesses and on attributed equity excluding unrealized investment gains and losses and accumulated other comprehensive income related to pension and postretirement benefits.

PRUDENTIAL ANNUITIES NAMES JOSEPH FUSCHILLO EXECUTIVE VICE PRESIDENT OF DISTRIBUTION

Fri, 30 Nov 2007 00:00:00 EST

Newark, N.J. – Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE: PRU), announced that Joseph Fuschillo has joined Prudential Annuities as executive vice president of Distribution. In this role, Fuschillo will lead Annuities’ four distribution channels--the independent broker dealer, wirehouse, bank and agency--and oversee activities of the organization’s national sales desk. He will report to David Odenath, president of Prudential Annuities. 

PRUDENTIAL ANNUITIES NAMES HARRY JOHNSON NATIONAL SALES MANAGER FOR WIREHOUSE REGIONAL CHANNEL

Fri, 30 Nov 2007 00:00:00 EST

Newark, N.J. – Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE: PRU), announced today that Harry Johnson has joined Prudential Annuities as national sales manager for the wirehouse regional channel--one of four distribution channels that also include the independent broker dealer, bank and agency channels. In this role, Johnson will focus on achieving sustained sales success through initiatives targeting the distinct needs of each wirehouse and its sales professionals. He will report to Alex MacGillivray, national sales manager of Prudential Annuities.  

PRUDENTIAL ANNUITIES ANNOUNCES NEXT INNOVATION IN GUARANTEED PROTECTION OPTIONAL BENEFITS

Tue, 27 Nov 2007 00:00:00 EST

NEWARK, N.J. – Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE: PRU) announced today it has launched Highest Daily Lifetime Five^sm, a variable annuity optional living benefit that guarantees, subject to the program rules, a five percent income stream every year for life based on five percent annual compounded growth on the highest daily protected value.

PRUDENTIAL FINANCIAL, INC. ANNOUNCES DETAILS FOR INVESTOR DAY

Fri, 16 Nov 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE: PRU) has announced details for its conference for analysts and investors in New York City on Tuesday, December 5, 2006.

Prudential Helps Take the ‘Work’ Out of Work Site Benefits Enrollment

Mon, 12 Nov 2007 00:00:00 EST

NEWARK, N.J. – Workers across the country are currently participating in their companies’ annual benefits enrollment period, and they’re facing important decisions—decisions that could impact their families’ financial futures. But with so much emphasis placed on health care benefits these days, many workers are overlooking crucial life and disability insurance, even though this employer-provided group coverage is often readily available, easy to enroll in, and competitively priced. This oversight can be attributed to several reasons, but the result is clear: a significant number of American workers are underinsured for life and disability.  

Retiring? Top Six Things to Consider Before You Leave Your Job

Mon, 12 Nov 2007 00:00:00 EST

Newark, N.J. – America is preparing for one of the most significant demographic shifts of our time as the oldest of the 76 million baby boomers reach retirement age. Before retiring, there are many important decisions that need to be made, which can leave many people uncertain about where to start. To help Americans clearly focus on the basics, Prudential Financial (NYSE:PRU) has identified six important financial considerations to think about before retiring.

PRUDENTIAL FINANCIAL, INC. SOURCE ADVISORY

Thu, 08 Nov 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) professionals can offer insight into the benefits of long-term investing and asset allocation during a volatile market, recommend products that substantially reduce investment risk despite drops in the stock market, and provide solutions on how to create successful retirement outcomes in an era where the responsibility for planning for this phase of life is being passed on to the American worker.

PRUDENTIAL CLOSES TWO LOANS TOTALING $116 MILLION FOR EASTGROUP PROPERTIES

Wed, 07 Nov 2007 00:00:00 EST

NEWARK, N.J. -- Prudential Mortgage Capital Company announced today that it recently originated two loans on behalf of its general account for EastGroup Properties: an $38 million refinancing loan for Hayward Industrial, in Hayward, California and a $78 million refinancing loan for a 17-property industrial portfolio located in Texas, Colorado, and Phoenix. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). 

PRUDENTIAL’S INDIVIDUAL LIFE MARKETING MATERIALS EARN IFCA RECOGNITION

Wed, 07 Nov 2007 00:00:00 EST

NEWARK, N.J. - Prudential Financial, Inc. (NYSE: PRU) announced today that its Individual Life Insurance marketing materials garnered three Awards of Excellence at the recent 2007 communicators competition sponsored by the Insurance and Financial Communicators Association. The three winning campaigns included a life insurance print, radio and TV ad series entitled "I Love You This Much," a marketing kit used to introduce Pruco Life's new Return of Premium Term product entitled “Term Wars” and a brochure designed to assist small business owners entitled "Helping to Protect the Future of Your Business."

PRUDENTIAL FINANCIAL, INC. ANNOUNCES THIRD QUARTER 2007 RESULTS; INCREASES 2007 EARNINGS GUIDANCE

Wed, 31 Oct 2007 00:00:00 EST

NEWARK, N.J. – Prudential Financial, Inc. (NYSE:PRU) today reported net income for its Financial Services Businesses of $860 million ($1.88 per Common share) for the third quarter of 2007, compared to $1.152 billion ($2.38 per Common share) for the year-ago quarter.   After-tax adjusted operating income for the Financial Services Businesses was $905 million ($1.97 per Common share) for the third quarter of 2007, compared to $828 million ($1.72 per Common share) for the third quarter of 2006, a 15% increase per Common share.   Adjusted operating income is a non-GAAP measure as discussed below. 