Prudential Financial, Inc. (NYSE:PRU) issued a statement after the Financial Stability Oversight Council’s decision to rescind Prudential’s designation as a nonbank systemically important financial institution. The company stated that the outcome reflects Prudential’s sustainable business model, capital strength and comprehensive risk management, which have and continue to enable the company to fulfill its promises to customers, deliver consistent performance and meet regulatory obligations.
While 2018 should finish on a high note, 2019 may provide many challenges, including the fading of fiscal stimulus, peak earnings and intensified scrutiny of the yield curve as concerns mount over the strength of the expansion. Choosing heads or tails correctly will matter as liquidity continues to be drained from the global financial system and accommodation wanes, says Quincy Krosby, Prudential's chief market strategist in her Q4 2018 market commentary, “Heads or Tails.”
Prudential’s longtime leader John Strangfeld will retire later this year, ending an 11-year run as chairman and CEO where he steered the company through the changing landscape of the financial services industry to become the premier provider of retirement, investment management and financial protection solutions.
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