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Prudential Names Annuity Unit Executives

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NU Online News Service, June 12, 2003, 1:23 p.m. EDT – Prudential Financial Inc., Newark, N.J., says it is putting Hayward Sawyer, a vice president, in charge of the relationship management function at Prudential Annuities.

Prudential Annuities includes the Shelton, Conn.-based annuity business that Prudential recently acquired from Skandia Insurance Company Ltd., Stockholm, as well as the annuity business it already had.

Sawyer, who will report to David Odenath, president of the Prudential Annuities unit, will be responsible for the old American Skandia’s “Key Accounts” group and Prudential’s own relationship management group.

Prudential also announced its sales structure for Prudential Annuities.

Richard Singmaster, a vice president, will manage sales through independent advisors and banks. He previously was a divisional sales manager in the same channel at American Skandia.

Stephen Long, a vice president, will manage sales through stockbrokers. He previously managed wirehouse and bank sales at Lincoln National Corp., Philadelphia.

James Novack, a vice president, will manage distribution through Prudential’s own agents. Novack previously was national sales manager for Prudential Annuities.

Christopher Allegro, previously a national sales desk manager at American Skandia, will manage the sales desks for the combined annuity organization. The sales desk offices are in Denver, Newark and Shelton.