Prudential names Bruce Karpati chief compliance officer for its mutual fund business

  Prudential names Bruce Karpati chief compliance officer for its mutual fund

Business Wire

NEWARK, N.J. -- May 9, 2013

Bruce Karpati has been named chief compliance officer for Prudential
Investments, the mutual fund manufacturing and distribution business of
Prudential Financial, Inc. (NYSE: PRU), the company announced today. In
addition to leading compliance for Prudential’s registered investment advisory
company, he also serves as the chief compliance officer for its mutual funds

Karpati spent more than a decade at the Securities and Exchange Commission,
most recently as national chief enforcement officer for its asset management
unit, leading enforcement efforts involving investment advisers, investment
companies, mutual funds and private funds. His appointment at Prudential is
effective Monday, May 13, 2013.

“We are proud to have Bruce join Prudential as we earn the trust of our
investors every day,” said Lee Augsburger, Prudential Financial’s chief ethics
and compliance officer. “His unparalleled, intimate knowledge of issues that
affect mutual fund companies and investors—from valuation, disclosure, mutual
fund board governance and other controls—will be invaluable to our business as
we seek to offer investment options that provide the best potential for
investors to meet their financial goals.”

While serving at the SEC during Chairman Mary Schapiro’s tenure, Karpati
oversaw approximately 60 cases covering every aspect of the asset management
industry. He also led nationwide risk initiatives in several areas, and led
efforts related to policy making and understanding emerging risks. Before
serving as national chief enforcement officer at the SEC, Karpati was also an
assistant regional director, a former branch chief and an attorney. Earlier,
he was an associate at the Washington, D.C., law firm of Dechert LLP, where he
counseled clients on investment company issues.

Karpati, holds a law degree from the University at Buffalo Law School and was
a member of the Buffalo Law Review and the Buffalo Journal of International
Law. He earned a bachelor’s degree in international relations from Tufts

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
approximately $1.061 trillion of assets under management as of March 31, 2013,
has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth through a
variety of products and services, including life insurance, annuities,
retirement-related services, mutual funds and investment management. In the
U.S., Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more information, please


Prudential Financial, Inc.
Theresa Miller, 973-802-7455
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