NEWARK, N.J.--(BUSINESS WIRE)--Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), announced today that Scott Kaplan has been named Head of the Pension Risk Transfer Business Team, effective immediately. Kaplan, a senior member of the Pension Risk Transfer leadership team, will continue to report to Phil Waldeck, the overall group Head of Pension & Structured Solutions. The rest of the PRT team remains the same, including Amy Kessler, who will continue to lead and grow the longevity reinsurance business in her current role as head of the longevity reinsurance team.
The change comes as Dylan Tyson, who held senior leadership roles in our Pension Risk Transfer business for the past seven years, will take on a new role on the senior leadership team at Prudential of Korea, the company’s life insurance company based in Seoul. He will focus on identifying, developing and driving a comprehensive retirement strategy for the Korean market.
“Dylan has been instrumental in driving the growth of our pension risk transfer business, and we wish him all the best in his new endeavor,” said Waldeck. “Scott has been a key contributor to our Pension Risk Transfer strategy and its execution. I am confident he will continue developing thoughtful, market-leading strategies to help companies better manage their pension liabilities and keep their promises to retirees.”
An 18-year veteran of Prudential, Kaplan previously led risk transfer and risk management strategies for pension plan sponsors as senior vice president and head of Global Product and Market Solutions for Prudential’s Pension & Structured Solutions business. Kaplan previously served as the senior finance leader for our individual life insurance business and as managing director within Prudential’s Treasurer’s Department, where he co-headed the Corporate Finance Group and served as Prudential’s liaison with the rating agencies. He is also a former member of the core treasury team which led Prudential’s demutualization.
Kaplan earned a B.A. in Economics from Colgate University, and received an M.B.A. in Finance from the New York University Leonard N. Stern School of Business. He is a CFA® Charterholder and a CPA.
Prudential is a global leader in pension risk transfer, with over $100 billion in total Pension Risk Transfer and Structured Settlement liabilities under management as of December 31, 2014. Prudential executed its first PRT transaction in 1928 and has also executed the largest and most complex PRT transactions on record. Since 1928, Prudential has helped more than 5,700 pension risk transfer clients provide and protect retirement security for more than 1.6 million people.
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation record keeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.0 million participants and annuitants. Prudential Retirement has $363.8 billion in retirement account values as of December 31, 2014. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of December 31, 2014, 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.