Company Website:
http://www.prudential.com
NEWARK, N.J. -- (Business Wire)
Prudential Financial, Inc. (NYSE:PRU) announced today that Robert Axel
has been promoted to senior vice president, controller and principal
accounting officer, succeeding Peter Sayre and reporting to Chief
Financial Officer Robert Falzon, effective immediately. Sayre will
oversee several key projects until he retires from the company,
effective October 31, 2014.
“Peter Sayre has served Prudential with distinction over the last 30
years and made numerous valuable contributions to the company, including
helping Prudential complete its demutualization and transition to a
public company,” said Prudential CFO Rob Falzon. “The company has
benefited significantly from Peter’s financial acumen, deep
understanding of our businesses and commitment to the development of
talent. We wish him well in his future endeavors.
“I am also pleased that Rob Axel will be our next controller. Rob’s
appointment is a strong testament to Prudential’s commitment to building
a deeply talented finance organization,” Falzon said. “As deputy
controller, Rob has played a key leadership role in creating and
implementing the highest standards of disclosure for the company’s
financial reporting to the SEC and our regulators, developing
accounting, capital and risk management frameworks, and serving as
executive sponsor for training and development initiatives across
Prudential’s finance organization. He is ideally suited for his new
role.”
Axel joined Prudential in 2001 as vice president, controller for the
company’s general account investment portfolio. He was named deputy
controller in 2010 with responsibility for monitoring and implementing
new accounting standards and ensuring company-wide compliance with U.S.
generally accepted accounting principles (GAAP) and statutory accounting
standards. Prior to joining Prudential, Axel was a senior manager at
PricewaterhouseCoopers, where he oversaw independent audits of several
major real estate and financial services companies. He earned a B.A. in
Accounting from Franklin & Marshall College and is a certified public
accountant. He is a member of the American Institute of CPAs (AICPA) and
New York State Society of CPAs (NYSSCPA) and represents Prudential on
the Accounting Committee of the American Council of Life Insurers. He
also serves on the AICPA’s Financial Reporting Executive Committee and
has served on the Financial Accounting Standard Board’s User Advisory
Council.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1.1 trillion of assets under management as of December 31,
2013, 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 www.news.prudential.com.
Contacts:
For Prudential Financial, Inc.
Bob DeFillippo, 973-802-4149
Source: Prudential Financial, Inc.
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