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Stuart Parker named president of Prudential Investments

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Stuart Parker has been named president of Prudential Investments. Parker succeeds Judy Rice (pictured), who has assumed the role of chairman of Prudential Investments until her retirement at the end of 2012. Prudential Investments is the mutual fund and wealth management business of Prudential Financial, Inc.

Parker joined Jennison Associates LLC in 2005. He has served dual roles as head of retail distribution for Jennison Associates, an asset management business of Prudential Financial, and head of mutual fund distribution for Prudential Investments. He has worked closely with Rice to build a robust third-party distribution platform. The changes were effective 1 January.

"Prudential Investments has become a formidable player in the mutual fund industry under Judy’s leadership, and I’m confident that through Stuart’s experience and leadership, we will continue to build on that success," says David Hunt, chief executive officer of Prudential Investment Management.

The business has seen tremendous growth under Rice’s eight years as president. In terms of net flows, Prudential Investments ranked 575 at the end of 2008, and moved up to 17th as of November 2011. Annual gross annual sales have grown from just USD1.5 billion in 2004 to more than USD14.6 billion through the end of September 2011.

Parker earned a bachelor’s degree in history from Rollins College in Florida and an MBA from Thunderbird, The American Graduate School of International Management, in Arizona. He is a board member of the Money Management Institute.
 

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