Prudential Hires Finkelstein for Investor Relations Post

Jun 03, 2014 5:01 pm ET

(Updates with Evercore’s comment on search for replacement in the seventh paragraph.)

June 3 (Bloomberg) -- Prudential Financial Inc., the second-largest U.S. life insurer, hired Mark Finkelstein, an analyst at Evercore Partners Inc., as head of investor relations.

Finkelstein will replace Eric Durant, who plans to retire, the Newark, New Jersey-based insurer said today in a statement distributed by Business Wire.

Prudential joins larger rival MetLife Inc. and insurance broker Marsh & McLennan Cos. in turning to Wall Street for staff to oversee relations with investors and analysts. In 2012, the broker hired Keith Walsh from Citigroup Inc., and MetLife appointed Edward Spehar from Bank of America Corp.

Finkelstein “brings broad experience in investor communications and analysis of insurance companies,” Prudential Vice Chairman Mark Grier said in the statement. “We will benefit greatly from his insights and valuable perspective based on the years he has spent closely analyzing Prudential, other insurers and financial-services companies.”

Finkelstein had an overweight rating on Prudential at Evercore, which he joined in 2011 after working at Macquarie Group Ltd. He previously worked for Swiss Re Capital Partners, managing public and private equity investments, and at PricewaterhouseCoopers, according to the statement. He has a bachelor’s degree in accounting from the University of Wisconsin at Madison.

‘Growing Platform’

At Evercore, he also covered New York-based American International Group Inc., which he rated equalweight, and MetLife, which he graded overweight.

“We have initiated a search for Mark’s replacement and are in discussions with several very senior candidates,” New York- based Evercore said in an e-mailed statement. “We look forward to adding a senior analyst to our growing platform.”

Prudential said Durant joined in 2000 from Bankers Trust Corp. and previously worked at Bank of America and Wells Fargo & Co.

--With assistance from Craig Giammona in New York.