Pru Named Top Company for Community Development

November 21, 2011 at 06:37 AM

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Prudential Financial was named "Top Company for Community Development" by DiversityInc at an awards gala earlier this month in Washington D.C.

Prudential Financial Inc., Newark, NJ, (NYSE: PRU) was recognized by DiversityInc, Princeton, NJ because of their focus on the resuscitation of their hometown, Newark as well as nationwide initiatives. The company's devotion to corporate citizenship dovetails with the values that DiversityInc exudes.

DiversityInc, is a source of information on diversity managment that runs a web site and produces a magazine five times a year.

Prudential's philanthropic efforts involve employee-volunteer and educational initiatives that place their workforce out in the community rather than simply funding the projects. Sixty-eight percent of Prudential's donations serve multicultural nonprofits such as, Boys and Girls Clubs of Newark, Children Defense Fund, YouthBuild Newark, the National Urban League as well as La Casa de don Pedro.

In his acceptance speech, Chairman and CEO John Strangfeld said, "We believe that we have an obligation to contribute to the communities where we live and work. As active corporate citizens, we've learned that investing in our communities –- with the goal of making a real difference — is not easy. Recent economic volatility has expanded the number of those in need and doubly challenged the institutions serving them."

Prudential was the only financial services company that received recognition from DiversityInc this year.

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