Prudential Financial Inc., the second-biggest U.S. life insurer, promoted Robert Falzon to chief financial officer to replace Rich Carbone, who is retiring after 16 years in the job.
Falzon, who’s been treasurer since 2009, takes over the CFO post on March 4, Newark, New Jersey-based Prudential said yesterday in a statement.
Falzon’s “experience in managing the company’s capital and liquidity, corporate finance, banking and cash management will serve him well in his new role,” Chief Executive John Strangfeld said in the statement.
Strangfeld, 59, is restructuring management to boost investment income and expand operations outside the U.S. David Durning was promoted in December to president of the commercial-mortgage business and Alfonso Munk was hired in July from Morgan Stanley to oversee more than $3.2 billion in assets for the real estate investment unit in Latin America.
Falzon earned a bachelor’s degree from Rutgers University and an MBA from Columbia University, Prudential said. He is a Chartered Financial Analyst and a certified public accountant.
Carbone, a former managing director of Salomon Brothers, joined Prudential as CFO in 1997, according to yesterday’s statement. He’ll be an executive vice president after his retirement from the CFO job.
Ken Tanji, CFO of the international business, was promoted to treasurer and will report to Falzon, Prudential said.