Mehdi Mahmud has been named chief executive officer of Jennison Associates LLC, the company announced today. Dennis Kass, who has served as chairman and CEO since 2003, will continue in his role as chairman of the board. The transition has no impact on Jennison's investment teams or the management of clients' portfolios. Jennison Associates is an asset management business of Prudential Financial, Inc. (PRU: NYSE).

"Mehdi's experience as chief operating officer at Jennison and Dennis' ongoing active role will ensure continuity and stability within the firm," said David Hunt, CEO of Prudential's asset management businesses. "I am confident Mehdi and his senior investment and business leaders will build upon Jennison's established strengths as a firm renowned for investing excellence and superb client service. They will safeguard Jennison's culture, built upon teamwork, proprietary research and the highest fiduciary standards."

Mahmud joined Jennison as a member of its management team in 2003 and became chief operating officer in 2005, working closely with Kass to develop and execute Jennison's business strategy. While at Jennison, Mahmud has been responsible for the investment supervision of the firm's Value, Small Cap, Opportunistic, and Income equity capabilities, and has been involved in the management of Jennison Fundamental Alpha and related equity strategies. He also has had oversight of key support areas, including institutional, retail, and subadvisory client activities. Before joining Jennison, he served in a variety of investment and management roles at J.P. Morgan Investment Management and Credit Suisse Asset Management. He earned a B.S. in electrical engineering from Yale University.

The company also announced that Ken Moore, currently chief administrative officer, has been named chief operating officer. Leslie Rolison, currently chief talent officer, assumes the chief administrative officer title. All changes are effective immediately.

Jennison Associates LLC, which had $126.7 billion in assets under management as of September 30, 2011, began managing investments in 1969 as an SEC-registered investment advisor of tax-exempt accounts primarily for large institutions. The firm's investment capabilities include a range of equity strategies - large cap growth and value, global, small cap, mid cap growth, multi-cap (opportunistic), blend, long/short, and multi-asset - as well as fixed income management. Jennison manages portfolios for institutional, subadvisory and private clients through separately managed and commingled vehicles, including mutual funds. For more information, please visit http://www.jennison.com/.

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 http://www.news.prudential.com/.

Prudential Financial, Inc.
Theresa Miller, 973-802-7455
theresa.miller@prudential.com