Charles Lowrey

Charles Lowrey became Chairman and CEO of Prudential Financial in 2019, taking the helm of one of America's most iconic financial institutions — symbolized by the "Rock of Gibraltar" logo that has represented financial strength since 1896. Under Lowrey's leadership, Prudential has been executing a strategic transformation to shift its business mix toward higher-growth, higher-return, and more capital-efficient operations. Prudential's three key businesses are: PGIM (Prudential's global investment management arm), one of the world's largest institutional asset managers with over $1.4 trillion in assets under management; U.S. businesses including retirement solutions (notably pension risk transfer deals, where corporations transfer their pension obligations to Prudential), individual life insurance, and group insurance; and International businesses, particularly a major presence in Japan (through Prudential Life Insurance and Gibraltar Life) and growing operations in Brazil and other emerging markets. Lowrey's transformation strategy has involved divesting lower-growth, capital-intensive businesses (including the Assurance IQ direct-to-consumer platform and certain international operations) while investing in PGIM's growth, expanding retirement solutions capabilities (which benefit from the wave of corporate pension de-risking), and modernizing the individual life and annuity businesses. Key stock variables include PGIM asset flows and performance, pension risk transfer deal volume, Japanese insurance market dynamics, investment portfolio returns (particularly alternative investments and real estate), and the pace of Lowrey's strategic transformation.