Prudential Retirement announced that it has a new senior vice president and head of the company’s Stable Value business, starting Monday.
Michael L. Davis, 46, will oversee “in-plan and third-party value product management,” which means plans that Prudential sells retirement products that the company sells itself and through other entities to corporate, public and nonprofit defined-contribution plans.
Davis was deputy assistant secretary of the U.S. Department of Labor’s Employee Benefit Security Administration. Before working for the labor department, he was managing director and head of the west region institutional client group for J.P. Morgan Asset Management.
Davis fills a position held by James King who became the company’s client portfolio manager of Strategic Relationships in August. And will continue to be a chair of the Stable Value Investment Association at Prudential.
Davis will report to Jamie Kalamarides, senior vice president and head of Prudential Retirement’s Institutional Investment Solutions.
Prudential Retirement is largely based in Hartford, and is a component of Newark, N.J.,-based Prudential Financial. Davis will be based in Woodbridge, N.J.
Davis holds a bachelor’s degree in finance from the University of Texas at Austin and a master’s degree in public policy from the John F. Kennedy School of Government at Harvard.