Prudential Financial is to revamp its US and international business leadership, with the changes coming into force in the first quarter of 2023.
The firm said that Scott Sleyster is to retire as head of International Businesses, with Andy Sullivan, current executive vice president, set to lead international business and PGIM. Caroline Feeney will be promoted to the role of executive vice president and head of US businesses. Both will report directly to chairman and CEO Charles Lowrey.
Lowrey said in a statement: “Scott has been a respected voice in our industry for many years, an influential leader at Prudential, and a valued member of our Executive Leadership Team. We are grateful for his service and wish him a long and happy retirement. The appointments of Andy and Caroline will ensure continuity in our leadership, while providing an opportunity for two of our most talented leaders to have an even greater impact on Prudential’s growth ambitions, as we work to realise our vision of becoming a global leader in investing, insurance, and retirement security.”
In his new role, Sullivan will be accountable for the company’s International Businesses while maintaining oversight of PGIM, Prudential’s global investment manager. David Hunt, president and CEO of PGIM, will continue to report to Sullivan.
As head of US businesses, Feeney will join Prudential’s executive leadership team and take on an expanded role overseeing the company’s portfolio of US-based businesses. In addition, she will take over from Sleyster as chair of the board of PruVen Capital, an independently managed venture fund backed by Prudential.
