Prudential Investments Establishes SW Sales Division
NEWARK, NJ, February 13, 2012 --Prudential Investments announced today that it has expanded its defined contribution business by establishing a new Southwest Sales Division, among other organizational changes. The new division will be led by Account Manager Stacey Harper, who will be supported by Retirement Specialist Jeffrey L. Meltzer. Both of these are new positions. Harper was formerly a national accounts manager at Prudential Investment Management, and Meltzer was most recently an internal wholesaler for Prudential Investments' sales team. The Investment Only Defined Contribution (IODC) unit of Prudential Investments supports advisors who help plan sponsors build and maintain defined contribution plans. Prudential Investments is the mutual fund and wealth management business of Prudential Financial, Inc.
Prudential also announced that Tony Fiore has been named director of institutional IODC sales. Fiore will be responsible for coaching the IODC sales team as well as developing consultant and registered investment advisor (RIA) relationships nationally. Previously, Fiore was the Eastern Region account manager. Ryan T. Quinn, who recently joined Prudential Investments from the Hartford Retirement Plans Group, has been named to Fiore's previous position. Both will report to Michael Rosenberg, senior vice president of Prudential Investments and head of the IODC channel.
"Our commitment to providing advisors with products and services that help their plan sponsor clients prepare participants for a successful retirement has driven our overall growth during the last few years," said Rosenberg. "Our business is still in its early stages and I see this as a tremendous opportunity to put additional resources into one of the fastest-growing segments of the asset management industry."
About Prudential Investments
Prudential Investments comprises three units. Prudential Mutual Funds, which had $37.8 billion in assets under management as of September 30, 2011, focuses on traditional mutual funds, separately managed accounts, and Investment Only Defined Contribution business. Distribution is through wire-houses, independent broker-dealers, banks, and insurance agencies to domestic retail customers. Wealth Management Solutions, with $17.5 billion in assets under administration as of September 30, 2011, is a business-to-business service organization. Its offerings include a powerful client service technology platform, a robust investment management research capability, and an array of programs for the training and development of financial professionals. Finally, its Strategic Investment Research Group, which oversees about $300 billion as of September 30, 2011, provides research for the managed accounts business and sub-advised mutual fund family, as well as Prudential's variable annuity, variable life, and retirement services offerings.
About Prudential
Prudential Financial, Inc., a financial services leader with approximately $901 billion of assets under management as of December 31, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential's 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., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/ .
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