Prudential Investment Management Expands Insurance Marketing Efforts with New Hire

Prudential Investment Management has announced an expansion of its marketing efforts within the insurance industry, including the addition of a new member to its insurance marketing team. John Foehl, a former consultant, has joined Prudential Investment Management to leverage the company's broad range of products to property & casualty and offshore captive insurance markets. The move is part of the company's strategy to support the growing interest among insurance companies to hire outside asset managers, particularly in private asset classes.

Key Takeaways:

• Prudential Investment Management has hired John Foehl, a former consultant, to join its insurance marketing team, focusing on offering the company's products to property & casualty and offshore captive insurance markets.
• Foehl brings expertise in asset allocation and portfolio management, having co-owned LPM Financial Advisors and served as a senior vice president for Summit Strategies Group.
• The move aims to support the growing interest among insurance companies to hire outside asset managers, particularly in private asset classes.
• Prudential Investment Management has a proven track record in private asset classes, enjoying success with insurance companies.
• Foehl has a strong background in insurance and asset management, having worked with insurance companies in the asset allocation and risk management area.
• He also holds various certifications, including Certified Financial Planner and Certified Cash Manager designations.
• Prudential Investment Management has $310 billion in assets under management as of March 31, 2004.
• The company is one of the largest managers of assets in the United States, serving individual and institutional customers worldwide.
• Prudential Financial companies have approximately $454 billion in total assets under management as of March 31, 2004.

Statistics:

• $310 billion: Assets under management for Prudential Investment Management as of March 31, 2004.
• 454 billion: Total assets under management for Prudential Financial companies as of March 31, 2004.
• 31 March 2004: Date by which Prudential Investment Management had $310 billion in assets under management.

Sources:

• "Newark, N.J. -- Prudential Investment Management (PIM)"
• Prudential Financial, Inc. (NYSE: PRU)
• The Prudential Insurance Company of America
• Union College
• University of Wisconsin
• University of Hartford
• National Association of Independent Insurers.