Waldeck to Succeed Feeney as Head of Prudential's U.S. Businesses

Waldeck has been the head of the multi-asset and quantitative solutions business at Prudential's PGIM asset unit since 2021.

What it means: Prudential said it's making the change at the U.S. businesses, and other executive changes, to "streamline operations in the company's largest markets and sharpen focus on key growth opportunities."

The changes are also part of "advancing the company's priorities of evolving its strategy, executing with consistency and discipline and fostering a high-performance culture," the company said.

Caroline Feeney: Feeney has been in charge of the U.S. businesses since 2021. Her job expanded to include Prudential operations in the rest of the world in March.

She has won many national awards and served on the boards of many business organizations.

She earned $8.6 million in total compensation at Prudential in 2024, according to a regulatory filing.

Andrew Sullivan, who took over from Charles Lowrey as Prudential's chief executive officer in March, said Feeney has been a trusted partner for many years.

"I am deeply grateful for her commitment to Prudential and for the lasting influence of her leadership," Sullivan said.

Phil Waldeck: Before Waldeck joined PGIM, he was senior vice president and chief transformation officer at the parent company and chief executive officer of Prudential's workplace solutions group.

He also has worked in Prudential's retirement business and its investment and pension solutions business.

He has a bachelor's degree from Tufts and a master's degree in business from the University of Michigan.

Waldeck "has a proven ability to drive results," Sullivan said. "His experience across Prudential's businesses, coupled with his ability to deliver meaningful outcomes, will be essential as we continue to build momentum in our U.S. businesses."

Prudential Plaza Building in Newark, New Jersey. Photo: Roman Tiraspolsky/Adobe Stock