Prudential Financial, Inc. (NYSE:PRU) has named Robert Falzon as executive vice president and chief financial officer (CFO), succeeding the retiring Rich Carbone and reporting to Vice Chairman Mark Grier, effective March 4. Carbone held the CFO position for 16 years, helping to transform Prudential from a mutual to a public company during one of the most turbulent decades for the U.S. economy. Prudential also announced that Ken Tanji will become senior vice president and treasurer, reporting to Falzon; John Hanrahan will return to the U.S. to become senior vice president, chief administrative officer (CAO) and CFO for the International Businesses; and Shoichiro Ichitani will succeed Hanrahan as president of Prudential of Japan. Hanrahan and Ichitani’s new roles will become effective on April 1.
“Prudential has benefited greatly from Rich’s keen intellect and vast experience. We are deeply grateful for his distinguished service and many contributions to the company,” said Prudential Chairman and CEO John Strangfeld. “We are also privileged to have a talented bench within our finance organization, and I am pleased that Rob Falzon will become our next CFO. As Prudential’s treasurer, he has developed a deep understanding of the company and its businesses. This knowledge and his experience in managing the company’s capital and liquidity, corporate finance, banking and cash management will serve him well in his new role.”
“Rich brought discipline and a high standard of excellence to everything he did. His role in building a world-class finance organization will stand as a lasting legacy,” said Grier. “Rob’s previous experience and 15-year career in a variety of roles at Prudential have given him a strong foundation to be our next CFO. Prior to his role as treasurer, he was a managing director in the Investment Banking Group at Prudential Securities, where he managed numerous public and private equity offerings and worked extensively on mergers and acquisitions. In addition, he worked in Prudential Real Estate Investors’ Global Merchant Banking Group and was CEO of its European business.”