PRS - Prudential Financial Inc. (PRU) Q4 2023 Earnings Call Transcript
2024-02-07 16:50:22 ET
Prudential Financial, Inc. (PRU)
Q4 2023 Earnings Conference Call
February 7, 2024 11:00 AM ET
Company Participants
Robert McLaughlin - IR
Charles Lowrey - Chairman, CEO and President
Robert Falzon - Executive Vice Chairman
Kenneth Tanji - EVP and CFO
Andrew Sullivan - EVP and Head, International Businesses and PGIM
Caroline Feeney - EVP and Head, US Businesses
Conference Call Participants
Tom Gallagher - Evercore ISI
Ryan Krueger - KBW
Alex Scott - Goldman Sachs
Elyse Greenspan - Wells Fargo
Suneet Kamath - Jefferies
Jimmy Bhullar - JPMorgan
Joel Hurwitz - Dowling & Partners
Wilma Burdis - Raymond James
John Barnidge - Piper Sandler
Michael Ward - Citi
Presentation
Operator
Ladies and gentlemen, thank you for standing by, and welcome to Prudential's Quarterly Earnings Conference Call. At this time, all participants have been placed in a listen-only mode. Later, we’ll conduct a question-and-answer session. Instructions will be given at that time. [Operator Instructions] As a reminder, today’s call is being recorded.
I will now turn the call over to Mr. Bob McLaughlin. Please go ahead.
Robert McLaughlin
Good morning, and thank you for joining our call. Representing Prudential on today's call are Charlie Lowrey, Chairman and CEO; Rob Falzon, Vice Chairman; Andy Sullivan, Head of International Businesses; and PGIM, our global investment manager; Caroline Feeney, Head of US Businesses; Ken Tanji, Chief Financial Officer; and Rob Axel, Controller and Principal Accounting Officer. We will start with prepared comments by Charlie, Rob and Ken, and then we will take your questions.
Today's presentation may include forward-looking statements. It is possible that actual results may differ materially from those predictions we make today. In addition, this presentation may include references to non-GAAP measures.
For a reconciliation of such measures to the comparable GAAP measure and a discussion of factors that could cause actual results to differ materially from those in the forward-looking statements.
Please see the slides titled Forward-Looking Statements and non-GAAP Measures in the appendix to today's presentation and the quarterly financial supplement, both of which can be found on our website at investor.prudential.com.
Now, I'll turn it over to Charlie.
Charles Lowrey
Thank you, Bob, and thanks to everyone for joining us today. Before we begin, I'd like to comment on our CFO transition. As you saw from yesterday's news release, Yanela Frias, President of Prudential's Group Insurance Business has been named Executive Vice President and CFO of Prudential, succeeding Ken Tanji, has a 27-year veteran of Prudential.
Yanela is a seasoned executive who brings a deep understanding of our business and industry, as well as significant finance, operations and leadership experience. I'm sure you'll enjoy getting to know her as she starts her new role.
Yanela will become CFO effective March 15, and Ken will stay on for a six-month period to ensure a smooth transition. Ken has been a great partner and friend and has had a distinguished 35-year career at Prudential. I don't need to go back far to articulate his impact.
Most recently, as CFO, Ken guided Prudential through the financial challenges of the COVID pandemic and the market volatility that followed. During the same time, his leadership on strategic initiatives meaningfully contributed to our goals of becoming less market-sensitive and more nimble. We are grateful to Ken for his many contributions over more than three decades and wish him well....
Prudential Financial, Inc. (PRU) Q4 2023 Earnings Call Transcript