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Prudential Shopping Equity Unit
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Prudential Financial (PRU Quote) is fielding offers for its research, sales and trading unit Prudential Equity Group.
The equity unit, which is small relative to other shops such as Goldman Sachs (GS Quote) and Merrill Lynch(MER Quote), consists of some 35 senior analysts but also has around 80 traders. Prudential has been trying to offload the unit as the market for research and trading has become more competitive and less lucrative.
Calls to Michael Shea, CEO of the group in New York, were not returned, and a spokeswoman at Pru's Newark, N.J., headquarters declined to comment. ...
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