Prudential Retirement Completes Initial Phase of Integration, Moves Quickly into Implementation; Combined Company Expands Capabilities and Client Base.NEWARK, N.J. -- Following the first quarter of integration activities, Prudential Prudential is the name of two different companies and buildings named after them: Companies:
See: New York Stock Exchange : PRU PRU Prudential Financial PRU Pupil Referral Unit PRU Photographic Reconnaissance Unit PRU Potomac Rugby Union (Washington, DC) PRU Provincial Reconnaissance Unit PRU Projets de Rénovation Urbaine PRU Pruhonice ), announced today that it has moved out of the initial planning phase In amphibious operations, the phase normally denoted by the period extending from the issuance of the order initiating the amphibious operation up to the embarkation phase. The planning phase may occur during movement or at any other time upon receipt of a new mission or change in the of integration and is now focused intently on the next phase, implementation of enhanced products and services for the retirement markets it serves. "In just about 100 days, we've built the foundation for a new, stronger, and more dynamic Prudential Retirement," said John Y. Kim, president of Prudential Retirement. "In fact, strategic plans have been completed for all full-service retirement businesses, each of which is now working hard to enhance existing products and develop new ones," Kim added. Beginning this year and moving into next, Prudential Retirement will offer clients an array of new and expanded products and services, including such offerings as: --Sub-advised institutional funds alongside registered mutual funds --Leading stable-value products --Introduction of its GoalMaker(R) asset-allocation program in a variety of new situations --Enhancements for its clients' retirement-plan participants, including enhanced websites, natural language recognition for its voice-response phone systems, and personal on-line e-statements. Prudential Retirement is also significantly enhancing its programs distributed through financial advisors and brokers, including increased investment flexibility alongside a new, highly competitive stable-value option, and creating a Premier Relationship Program for top advisors. Key accomplishments since the closing include completing the senior leadership team and their direct reports and completion of the company's new business and client-service model. "Particularly gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. for us, during this period of change, has been the reception we have received in the marketplace," Kim said. "Our sales to new clients, just since the close on April 1, have been robust, as we have signed more than two dozen new full-service retirement clients. While the focus of the organization is clearly on the future, Kim said, some integration work continues, including efforts on a variety of longer-term enhancements and upgrades. Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. . Services include state-of-the-art recordkeeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With over 75 years of retirement experience, Prudential Retirement meets the needs of 2.1 million defined contribution participants and 1.2 million defined benefit annuitants. Prudential Retirement has $120 billion in retirement account values as of December 31, 2003. Prudential Financial companies, with approximately $454 billion in total assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of March 31, 2004, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. . For more information, visit www.prudential.com. |
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