Prudential Financial, Inc. (NYSE: PRU) has announced a realignment of its senior business leadership structure to streamline operations in its largest markets and sharpen focus on key growth opportunities. As a result of this realignment, leaders responsible for the company’s U.S. businesses, emerging markets, the Japan group, and Prudential’s asset management business, PGIM, will now report directly to Chief Executive Officer Andrew (Andy) Sullivan.
Phil Waldeck, who has been serving as the head of PGIM’s multi-asset and quantitative solutions business, has been appointed Executive Vice President, Head of Prudential’s U.S. businesses, effective Feb. 2, 2026. Prior to PGIM, Waldeck served as Prudential’s Chief Transformation Officer and previously held senior business leadership roles, including President of Retirement and Head of Pension and Structured Solutions.
As part of these changes, Caroline Feeney, Global Head of Retirement and Insurance, will depart Prudential. CEO Sullivan expressed his gratitude for her commitment and lasting influence of her leadership.
Prudential Financial, Inc. is a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of September 30, 2025, operating in the United States, Asia, Europe, and Latin America.
These leadership changes are designed to support Prudential’s long-term growth agenda and strengthen accountability across its global businesses, advancing the company’s priorities of evolving its strategy, executing with consistency and discipline, and fostering a high-performance culture. Following these announcements, the company's shares moved -0.29%, and are now trading at a price of $115.22. For the full picture, make sure to review PRUDENTIAL FINANCIAL INC's 8-K report.
