Marcks has decided to retire after 10 years as the head of the retirement unit, Prudential said Monday.
Waldeck has been the head of the Newark, New Jersey-based company’s investment and pension solutions unit.
The retirement unit oversees all of Prudential’s defined benefit pension plan and defined contribution plan operations and related businesses.
The investment and pension solutions unit, part of the retirement unit, oversees pension risk transfer transactions, longevity reinsurance, structured settlements and stable value funds. It manages products with a total of $185 billion in account value.