NEWARK, N.J.--(BUSINESS WIRE)--
Prudential Retirement announced today that Gary Ward, previously head of
Prudential Retirementís Investment Only Stable Value Business, has been
promoted to the head of Stable Value for Prudential Retirement. Ward
will report to Jamie Kalamarides, senior vice president and head of
Prudential Retirementís Institutional Investment Solutions. Prudential
Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
In his previous position as head of Prudential Retirementís Investment
Only Stable Value Business, Ward oversaw $75.3 billion in institutional
account values and the continued growth of the Defined Contribution
investment-only channel as well as the successful development of a
stable value wrap for 529 plans. Prior to joining Prudential
Retirementís Stable Value business, Ward led the Strategy, Planning and
Project Management organization at Prudential Retirement and the
Full-Service Existing Business Pricing Team.
ďPrudential continues to be fully committed to the growth opportunities
in Stable Value and we look forward to retaining and enhancing our
position as a leader in this area,Ē said Kalamarides. ďWith Garyís
leadership, Stable Value will continue innovating new products,
channels, markets and methods, contributing to Prudential Retirementís
vision of transforming retirement security for all Americans.Ē
Ward holds a Bachelor of Business Administration degree in Marketing
from Boston College and an Executive MBA in Management from New York
Universityís Stern School of Business, where he graduated with
distinction and served as class president.
As of March 31, 2014, Prudential Retirement has 17 percent marketshare
and $119.8 billion in stable value account balances.
Prudential Retirement delivers retirement plan solutions for public,
private, and non-profit organizations. Services include state-of-the-art
record keeping, administrative services, investment management,
comprehensive employee investment education and communications, and
trustee services. With over 85 years of retirement experience,
Prudential Retirement helps meet the needs of over 4.0 million
participants and annuitants. Prudential Retirement has $327.8 billion in
retirement account values as of March 31, 2014. Retirement products and
services are provided by Prudential Retirement Insurance and Annuity
Company (PRIAC), Hartford, CT, or its affiliates.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1.1 trillion of assets under management as of March 31, 2014,
has operations in the United States, Asia, Europe, and Latin America.
Prudentialís diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudentialís iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit www.news.prudential.com.
Prudential Financial, Inc.
Josh Stoffregen, 973-802-3996
Source: Prudential Financial, Inc.