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Press release from Business Wire

Prudential Fixed Income expands international economic research team

<p class='bwalignc'> <i><b>New economists to lead research for Asia, emerging Europe, the Middle East and Africa</b></i> </p>

Tuesday, August 07, 2012

Prudential Fixed Income expands international economic research team09:30 EDT Tuesday, August 07, 2012 NEWARK, N.J. (Business Wire) -- Prudential Fixed Income has named two prominent global economists to lead economic and country research on Asia and emerging Europe, the Middle East and Africa, the company announced today. Prudential Fixed Income, among the largest fixed income managers in the United States, is the principal fixed income business of Prudential Financial, Inc. (NYSE: PRU). Gerwin Bell, a former mission chief for the International Monetary Fund, brings extensive policy experience across major issues and regions to his new role as principal and lead economist for Asia. London-based Giancarlo Perasso, appointed principal and lead economist for EMEA, was formerly the chief economist for the Matrix/Redux Funds. Both are part of Prudential Fixed Income's expanding Global Macroeconomic Research Team, reporting to Jurgen Odenius, its chief economist. The appointments are effective immediately. “Together, Gerwin and Giancarlo bring deep global experience that will help us expand our ability to find the right opportunities for our clients and manage risk in an ever-changing—and growing—global economy,” said James Sullivan, CEO of Prudential Fixed Income. “In particular, their skills will strengthen our analysis of global macro themes and country risk, adding to our existing foreign corporate investment grade and high yield credit analysis.” Before joining Prudential, Bell worked across mature and emerging markets at the IMF, and recently led the negotiations of several Stand-By Arrangements. Earlier, he served as an economist for the European and African departments, along with the Middle Eastern and fiscal affairs departments. He has also authored numerous research papers and articles for the IMF. Bell holds a doctorate in economics from Universität Trier in Germany, masters' degrees in philosophy and economics from Yale University, and a master's degree in economics from Universität Trier. Perasso was most recently chief economist for the Matrix/Redux Funds, a London-based hedge fund, and a visiting professor at Cattaneo University in Italy. Earlier, he was global head of emerging market research at Westdeutsche Landesbank, and senior economist covering EMEA for JP Morgan Chase. Perasso has written several research papers and has been widely published in industry journals. Perasso holds a master's degree in political economy from Johns Hopkins University and a laurea in social and economic sciences from the Universita' Commerciale Luigi Bocconi in Milan. Prudential Fixed Income, with $348 billion in assets under management as of June 30, 2012, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J.; London and Singapore. For more information, please visit www.prudentialfixedincome.com. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $961 billion of assets under management as of June 30, 2012, 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 and investment management. 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, 973-802-7455theresa.miller@prudential.com