Prudential Financial, Inc. (NYSE: PRU) today announced it has named two long-time executives to lead the company's Group Insurance and Annuities businesses.
Stephen Pelletier, who is currently President of Prudential Annuities, will become President of the Group Insurance Business, replacing Lori High, who has resigned. Robert O'Donnell, currently Senior Vice President, Head of Product, Investment Management and Marketing for Prudential Annuities, will become President of the Annuities business.
"I'm delighted we have a leader as seasoned and capable as Steve to head Group Insurance and sustain Prudential's commitment to this business," said Charles Lowrey, Chief Operating Officer, U.S. Businesses. "Under Steve's leadership, Prudential Annuities established its position as a market innovator and leader. I also want to thank Lori for her 13 years of service to the company."
Pelletier joined Prudential in 1992. Before leading the Annuities Business, he served as chairman and CEO of Prudential International Investments, responsible for Prudential's Investment Management Business in international markets, including China, Japan, Korea, Taiwan, Mexico, Germany and Italy. In addition, Pelletier was responsible for the company's offshore investment products. He has also held executive positions at Chemical Bank and Manufacturers Hanover Trust. He received a B.A. from Northwestern University and an M.A. from Yale University.
