Prudential Retirement Names Steven Hart to Lead TPA Channel Management
NEWARK, NJ, October 19, 2005 -- Prudential Retirement, a business of Prudential Financial, Inc. (NYSE: PRU), announced today that it has named Steven Hart vice president of Third-Party Administrator (TPA) Channel Management within Prudential's Full-Service Retirement business.
Hart will be responsible for enhancing distribution opportunities and strengthening partnerships with TPAs and advisors who serve corporate clients in the small business market. In addition, Hart will assume responsibility for the organization's recently formed TPA Advisory Council. He will report directly to David Musto, senior vice president and head of the Full-Service Retirement Emerging Corporate Segment for Prudential Retirement.
"Steve's background in developing TPA-focused products, systems, sales and marketing tools, along with his active involvement in industry organizations, like NIPA and ASPPA, provide a broad perspective on how best we can work with and address the needs of our TPA partners and their clients. In the coming months, Steve will accelerate the implementation of our TPA-channel strategy and begin to work with our TPA Advisory Council members to develop a platform for our future growth within our small business market segment," said Musto. "In addition, the creation of this role underscores Prudential's commitment to building leading retirement plan solutions for our TPA partners and the small business market more broadly."
Hart joins Prudential from Automatic Data Processing (ADP), where he most recently served as national sales director for TPA programs, and was instrumental in developing and managing product and distribution programs, and in providing input into systems development, to support the company's TPA distribution channel. Prior to that, he served in various TPA sales leadership and account management roles with MetLife, Zurich Scudder, and Universal Pensions, Inc.
Hart is currently National Board president of the National Institute of Pension Administrators (NIPA), and an active member of the American Society of Pension Professionals & Actuaries (ASPPA). He has a bachelor's degree in communications from Clarke College. In addition, he is a Certified Retirement Services Professional (CRSP), and holds NASD Series 6, 7 and 63 licenses and a General Life (GL) license.
About Prudential
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art recordkeeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With over 80 years of retirement experience, Prudential Retirement meets the needs of approximately two million defined contribution participants and more than one million defined benefit annuitants and participants. Prudential Retirement has $132 billion in retirement account values as of June 30, 2005. For more information, visit www.prudential.com.
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