Prudential named “Top Company for Community Development”

DiversityInc special award cites philanthropic, employee-volunteer and educational initiatives.

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) has been named “Top Company for Community Development” by DiversityInc. The award is one of eight special achievement awards recently presented by the magazine at a November 9 awards gala in Washington D.C.

DiversityInc said Prudential exemplifies corporate citizenship reflecting its core values. The company’s efforts to revitalize its home city of Newark, N.J., as well as its philanthropic, employee-volunteer and educational initiatives are changing lives throughout the country. Prudential is a true example of corporate social responsibility in every way.

DiversityInc also noted that sixty-eight percent of Prudential’s donations are allocated to multicultural nonprofits, including Boys and Girls Clubs of Newark, Children Defense Fund, YouthBuild Newark, the National Urban League, and La Casa de don Pedro; two-thirds of its senior executives (CEO and direct reports and one level down) sit on the boards of multicultural nonprofits.; The Prudential Foundation spends more than $25 million annually on public education, workforce development, small business development, community revitalization, arts and culture and helping build the capacity of neighborhood organizations; the company has invested more than $1 billion through its social investment program to catalyze local redevelopment since 1976.

In accepting the award, Chairman and CEO John Strangfeld said, “We believe that we have an obligation to contribute to the communities where we live and work. As active corporate citizens, we've learned that investing in communities -- with the goal of making a real difference -- is not easy. Recent economic volatility has expanded the number of those in need and doubly challenged the institutions serving them. With revenues declining and the demand for services increasing, building capacity in nonprofits is one way to help mitigate the effects of economic hardship on the communities with which Prudential is most involved.”

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.

Prudential Financial, Inc.Peter Price, 973-802-6847[email protected]

Source: Prudential Financial, Inc.