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Pru Picks Own Exec To Run Annuity Unit

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NU Online News Service, Feb. 7, 2:33 p.m. – Prudential Financial Inc., Newark, N.J., has picked one of its own executives, David Odenath, to be president of a new annuities group.

The group, part of the company’s insurance division, will manage Prudential’s own annuity operations along with those of American Skandia, Shelton, Conn.

Prudential recently announced plans to acquire American Skandia, a major annuity manufacturer, from its parent company, Skandia Insurance Ltd., Stockholm.

Odenath has been president of Prudential’s annuity business.

Wade Dokken, president of American Skandia, will work in the Prudential insurance division’s strategic planning office, Prudential says.

Before Odenath joined Prudential in 1999, he was sales director of the investment consulting group at PaineWebber Inc., New York.

Dokken started out at PaineWebber before going to work for American Skandia in 1989, Prudential says.