Prudential Financial Inc.
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"I wouldn't say they are as lean and mean as John Hancock was when it went public, but they have come a tremendous way. I think in terms of corporate culture, Prudential needs to get organized to decide with whom it competes - other financial services such as Merrill Lynch and [Charles] Schwab, not just MetLife, New York Life and other insurance companies."
- Colin W. Devine, vice-president of Salomon Smith Barney, New York (January 2001).
"Prudential remains a highly respected name in insurance. The company's biggest challenge now is to change its corporate culture to one that reports to shareholders every 90 days."
- Thomas Upton, Analyst, Standard & Poor's (January 2001).
With revenues of $27.18 billion in 2001, Prudential Financial Incorporation (Prudential) was the second largest individual life insurance company in the US. Founded in 1875, Prudential had emerged as the leading life insurance company in the US and one of the largest providers of financial services in the world.
Before December 2001, Prudential was known as Prudential Insurance Company of America. In December 2001, Prudential embarked on a demutualization5 program, with an initial public offering (IPO) worth $3.48 billion.
1] The survey ranked US 500 largest organizations based on their revenues.
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