Prudential announces chief financial officer transition

Newark-based Prudential Financial on Wednesday announced that, effective March 15, Yanela Frias, president of Group Insurance, will assume the role of executive vice president and chief financial officer. With nearly three decades with the firm, Frias will join the executive leadership team as an officer and report to Robert Falzon, vice chair of Prudential.

She will succeed Ken Tanji, who will remain with the company through Sept. 30 to ensure a smooth transition.

“Ken has played an important role in Prudential’s success, holding a variety of finance leadership positions over his tenure with the company and, most recently, in directing the company’s financial strategy,” Charles Lowrey, chairman and CEO of Prudential Financial, said. “Ken made meaningful contributions as our CFO, including leading derisking and capital release transactions, delivering on expense objectives and successfully steering the company through the financial challenges of the pandemic and ensuing market volatility. On behalf of the board of directors and management team, I want to thank him for his 35 years of distinguished service and his many contributions and commitment to Prudential.”

During her tenure with Prudential, Frias has held a number of senior leadership positions across finance, operations and Prudential’s Insurance and Retirement businesses.

“Yanela’s extensive finance, operations and leadership experience will serve us well as we execute on our strategy to become a higher-growth, less market-sensitive and more nimble company, creating lasting value for our customers, our shareholders and our employees,” Lowrey added.

“Yanela is a seasoned executive with a broad range of experience in all facets of financial management and a proven track record of leading large, complex organizations. She has a deep understanding of both our business and the life insurance, annuities and retirement industry, and we look forward to the impact she is sure to have in her new role,” Robert Falzon, vice chair of Prudential Financial, said.

Prior to being appointed president of Group Insurance in 2021, Frias served as president of Prudential Retirement. Previously, she led the Investment & Pension Solutions business within Prudential Retirement, where she was responsible for several businesses, including Pension Risk Transfer and International Reinsurance, and related institutional product innovation efforts domestically and internationally.

Prior to this, Frias spent nearly 20 years in a variety of finance roles of increasing responsibility, including assistant treasurer for Prudential Financial, CFO for Individual Life Insurance and CFO for Annuities.