News Column

Prudential Retirement promotes Gary Ward to head of stable value

July 23, 2014



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.

0264799-00001-00




Prudential Financial, Inc.

Josh Stoffregen, 973-802-3996

josh.stoffregen@prudential.com

Source: Prudential Financial, Inc.


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