PRS - Prudential Financial Inc. (PRU) Morgan Stanley 2024 U.S. Financials Conference (Transcript)
2024-06-12 16:22:09 ET
Prudential Financial, Inc. (PRU)
Morgan Stanley 2024 U.S. Financials Conference
July 12, 2024 01:45 PM ET
Company Participants
Robert Falzon - Vice Chairman
Conference Call Participants
Bob Huang - Morgan Stanley
Presentation
Bob Huang
Good afternoon, everyone. Before we get started, just want to read the disclosures. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. The taking of photographs and the use of recording devices is also not allowed. If you have any questions, please reach out to your Morgan Stanley sales representative.
Question-and-Answer Session
Q - Bob Huang
Having that out of the way, we're very privileged to have Rob Falzon, the Vice Chairman of Prudential Financials with us today at our Morgan Stanley Financial Conference. So if we can just get it started. Maybe at the very starting point, in terms of a broader strategy, can you maybe talk about -- looking at the last few years, right, we had some very big strategic achievements. And then going forward, can you talk about what is the expectation and in terms of how the company will evolve overtime for the next few years?
Robert Falzon
Yeah. So just -- thanks, Bob. But sort of looking back, I think there are actually a series of things I would point to. First and foremost is the focus that we've driven in the company, that's really come out in two dimensions. One very obvious, which is the level of divestitures that we've done in order to focus in on the businesses that we think are sort of most interesting to us on a go-forward basis. That's been like some 10 activities that have aggregated $8.5 billion, $9 billion over the last sort of handful of years.
And the other way in which that's manifested itself is the focus we've had on what we're doing with technology and our sort of our organizational spend and looking at organizational redesign, process enhancement, speed to market. It's a lot of things that aren't generally visible to investors. But we've cut in half the amount of time it takes us to get from a product from sort of the lab into the marketplace as a result of that kind of focus that we've applied....
Prudential Financial, Inc. (PRU) Morgan Stanley 2024 U.S. Financials Conference (Transcript)