Prudential Financial

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

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Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Fortune 500

The 300 companies on this year’s list brought in over $12.6 trillion in revenue for the latest 12 months, with the median revenue figure at $22 billion.

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The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

The 300 companies on this list are transforming industries from the inside out.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500-2023-067.

The financial services company, which offers a broad array of services for retail and business clients including insurance, dropped 16 places on this year’s list as the company endured substantial losses in profit in 2022. 
<ul> 
 	<li>The firm saw a rocky year, with revenue for 2022 decreasing by 15% to $60 billion.</li> 
 	<li>Its profits fell considerably as well, decreasing by 118% in 2022, to a net loss of $1.4 billion, as insurance claim payouts grew more expensive in 2022.</li> 
 	<li>The firm’s CEO, Charles Lowrey, explained that unfavorable operating results “reflect[ed] lower variable investment and fee income,” among other contributing factors, in a statement about the company’s fourth-quarter 2022 earnings results.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

This year’s Fortune 500 marks the 68th running of the list.

F500 2022-Prudential

One of the world’s largest insurance companies, Prudential Financial operates in over 40 countries, offering services such as life insurance, mutual funds, and annuities. The company aims to have net-zero emissions across its primary global home office operations by 2050. It has also bounced back from early pandemic losses that led to the company losing money in 2020. A quarterly dividend increase of 4% in the first quarter of 2022 represents Prudential Financial’s 14th consecutive annual dividend boost, and the company plans to return $11 billion of capital to shareholders by the end of 2023.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500-2021-178-PRUDENTIAL FINANCIAL

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;The insurance giant felt the squeeze of the pandemic in 2020; Prudential’s revenues fell 12%, while it posted a net loss of $374 million (compared with profits of nearly $4.2 billion in 2019). But chairman and CEO Charles Lowrey has talked up plans to invest up to $10 billion into “higher-growth, less market-sensitive” businesses, as well as a cost-cutting target of $750 million by the end of 2023. One bright spot remains PGIM, the insurer’s massive investment management arm, which saw its assets under management (AUM) swell 13% to nearly $1.5 trillion at the end of 2020.&quot;}" data-sheets-userformat="{&quot;2&quot;:12673,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:2,&quot;11&quot;:4,&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11}">The insurance giant felt the squeeze of the pandemic in 2020; Prudential’s revenues fell 12%, while it posted a net loss of $374 million (compared with profits of nearly $4.2 billion in 2019). But chairman and CEO Charles Lowrey has talked up plans to invest up to $10 billion into “higher-growth, less market-sensitive” businesses, as well as a cost-cutting target of $750 million by the end of 2023. One bright spot remains PGIM, the insurer’s massive investment management arm, which saw its assets under management (AUM) swell 13% to nearly $1.5 trillion at the end of 2020.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-55-Prudential Financial

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

The insurance giant saw both revenues and earnings climb nearly 3% year-over-year in 2019, with chairman and CEO Charles Lowrey talking up Prudential’s ability to “drive greater efficiency across our operations” in its year-end earnings report. The company returned roughly $4 billion to shareholders in 2019 and says it’s taking actions to mitigate the negative impact of low interest rates. Meanwhile, at PGIM—Prudential’s massive money management arm—assets under management (AUM) climbed 13%, to more than $1.3 trillion at the end of 2019.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-053-Prudential

The insurance giant saw both revenues and earnings climb nearly 3% year-over-year in 2019, with chairman and CEO Charles Lowrey talking up Prudential’s ability to “drive greater efficiency across our operations” in its year-end earnings report. The company returned roughly $4 billion to shareholders last year and says it’s taking actions to mitigate the negative impact of low interest rates. Meanwhile, PGIM—Prudential’s massive money management arm—saw its assets under management (AUM) climb 13%, to more than $1.3 trillion at the end of 2019.

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This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

These 52 companies from across the globe are doing well by doing good.

Change the World

Here are the World's Most Admired Companies for 2018 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 64th running of the list.

Here’s our look at 57 companies that do well by doing good.

Here are the World's Most Admired Companies for 2017 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 63rd running of the list.

Here are the World's Most Admired Companies for 2016 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

Business insiders have spoken: Asked which companies they most admire, more than 4,100 executives, directors, and analysts chose these top 50 All-Stars.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Prudential Financial, a global financial services company founded in 1875, offers life insurance, annuities, retirement solutions, mutual funds, and investment management services to individuals, businesses, and institutions.

Q2 2025

Q1 2025

Q4 2024

Prudential Financial (PRU): Company Profile, Stock Price, News, Rankings

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prudential financial

Prudential Financial, a global financial services company founded in 1875, offers life insurance, annuities, retirement solutions, mutual funds, and investment management services to individuals, businesses, and institutions.

Prudential Financial (PRU): Company Profile, Stock Price, News, Rankings | Fortune

Fortune Editors

Fortune 500 Power Moves: Which executives gained and lost power this week, March 22-28, 2025

/2025/03/28/fortune-500-power-moves-march-22-28/

Fortune 500 Power Moves: Which executives gained and lost power this week, Feb. 8-14, 2025

/2025/02/14/fortune-500-power-moves-feb-8-14/

Fortune 500 Power Moves: Which executives gained and lost power, Dec. 1–13, 2024

/2024/12/13/fortune-500-power-moves-dec-1-13/

Sasha Rogelberg

Who is Jonathan Bloomer, Morgan Stanley’s chairman who is presumed dead in the Bayesian yacht disaster?

/2024/08/20/jonathan-bloomer-morgan-stanley-chairman-presumed-dead-bayesian-yacht-prudential-mike-lynch/

CEO Charles Lowrey discusses how Prudential Financial, a 150-year-old company has remained resilient through economic and global challenges, from the Great Depression to the recent pandemic. He also discusses adapting to evolving customer needs by embracing AI and tech innovation.

CEO’s Best Job Advice: Embrace Career Change

Leadership

CEO Charles Lowrey discusses how Prudential Financial, a 150-year-old company has remained resilient through economic and global challenges, from the Great Depression to the recent pandemic. 

CEO Charles Lowrey discusses how Prudential Financial, a 150-year-old company has remained resilient through economic and global challenges, from the Great Depression to the recent pandemic

Career changes are going to occur for the vast majority of people. And so that is something that young people just need to understand. The second point I'd make is that careers are never linear. So even if you do stay in the same company, you may be get promoted, sometimes you may have lateral moves. That's all OK? Because at the end of the day, when you think about your career, you are a compilation of your experiences that you had beforehand. And when you move career or when you move into a new position, you're bringing all those experiences with you, which enables you to provide a different perspective than others might. So what I would say is that one should embrace career changes or moves within a company because those make you a a better employee over the long term because of the variety of experiences you have prudential has been around for 100 and 50 years and has seen all sorts of different global economic conditions. It has seen the Great Depression, the great recession, two pandemics and a host of other things. So we do two things in order to make sure that we are resilient and we are strong. First is we always look to our financial strength. We are an extremely strong company. We make promises for decades and clients need to understand that we will be there for them. The second point is that we don't react to any particular economic circumstance because we are looking through the cycle and we manage through cycles in order to make sure that we are resilient for the long term. When I think about resilience, I think about a number of different components. The first of which starts with talent. If you have great talent, if you have great employees, they by definition are resilient. The second component though is do they all believe in a North Star, which is our purpose? And if you have talented people that are all going in the same direction that helps with resilience, the third component is, do they understand their role in the company in fulfilling our purpose? And if you have someone that understands their role that they come in every day and they know what they're doing that will make them resilient. The fourth component is that the company itself credential needs to support our employees both in terms of obviously financial remuneration, which is table stakes, but also in terms of their health and their wellness and credentials have extraordinary benefits to support our employee, you put those four components together. And when we face something like we did in the pandemic, where we were one of the first companies to go remote. Our employees were knocking down challenges right and left. In order to support our customers, I couldn't have been more proud of the company and our employees. And to me that is the single greatest example of resilience that we have faced. Some of the biggest challenges that we face today are external and others are obviously internal. But I would say the the biggest challenge we face today is the rate of change that our customers are experiencing both in terms of their needs and their desires. So in terms of their needs, you think about the aging demographic of our customers, you think about the different needs, they have investing insurance and retirement security. But then you think about the customers and how they are demanding services, they may want them completely digitally online. We can do that, they may want it in a hybrid experience where they start digital and then talk to one of our advisors. They may just want to talk to our advisors or they may want to talk to their own advisor and we do that as well through third party distribution. And therefore, as we innovate as we change, as our customers change, we're also changing the way in which we deliver those products to our customers in terms of speed, in terms of specificity of product. And that's where A I which we've been using for a long time for 10 years and now generative A I comes into play. And as an example, if you think about one of our simplified term products, it used to take 22 days to underwrite and now it takes a few seconds. That's the kind of speed and the kind of innovation that's taking place in the world today, in our industry today. And certainly within prudential.

The key to retaining talent, says Charles Lowrey, is not more pay but “purpose”

Prudential CEO Tells How Leading with Purpose Transformed the Rock

Prudential CEO on leading with purpose

Charlie. Thank you so much for joining us. It's great to see you. Let's begin by talking about leaving with purpose because when you became the new Ceo of Prudential five years ago, you were focused on the company's purpose. How do you define purpose? And why is it so important? I love talking about purpose and our purpose is to make lives better by solving the financial challenges of a changing world. It is the reason we exist. It's the reason we do everything. That's the reason why so many of our employees work with us. And it is, it is our reason for being when you took charge, you set about to change prudential and transform the company, what did you want prudential to be? And how did purpose fit into your vision? So what we said very simply was that we wanted prudential to be a higher growth, less market sensitive and more nimble company so that we could earn our existence for the next 150 years as we've been for the past 150 years. But we have to earn that the competition was different. Our customers are changing. And so we wanted to have a strategy that made sense as we go forward for the next 150 years. Well, I understand that Prudential has changed dramatically in the past five years. The words people use to describe your company today are agile innovative technology oriented risk taker. I mean, that's not what we expect to hear from a company that's in the retirement and insurance business. Tell us more about how that all came about for a number of reasons. One, if you look at the context in which we operate, our competitive environment was changing rapidly, but more importantly, our consumers were changing. They want things when, where and how they want. And in order to provide our consumers and clients with the products and services they need, we had to change in order to serve the demographic. And it's interesting that most of these changes were done during COVID. Why did you do all of that at such a difficult and uncertain time? I mean, Prudential wasn't in trouble. It's highly ranked Fortune 500 company even back then. It's known as the Rockets Solid. It's dependable. Why did you feel an urgency to reinvent the company during COVID? Well, necessity is the mother of invention and we had to, no one thought that we would be able to go remote 50,000 people in 40 countries in 48 hours. And yet we did it. And that was a proof point for our employees that they could do more and they could do it faster. That's the first point. Second point is customers needed us during the pandemic. They were scared, they wanted to know the balances of their checking accounts or their, their investment accounts. We needed to be able to supply that quickly to them in an automated passion. We had to invent things on the fly that conserve the customers. So it was the pandemic served as an accelerant for so many of the things we needed to do. What was the reaction of your employees? Did they understand what you were doing and that these changes had to be done right now. Yes, they did because they were on the front lines. They saw that we had to serve our customers and they were actually excited. They were excited that they could do things faster and they could accomplish things. They saw the results of what they were doing on our customers and the benefits that we were able to provide our customers as a result of the changes we were making. Despite all the change and the positive stuff that you were doing, we saw during COVID that many employees left their companies, including at Prudential, went on to other companies as you watched this revolving door. What did you learn of seeing people jump from job to job? What did you learn about that? We learned two things, the importance of culture and the importance of purpose. People could jump from job to job. You're absolutely right. It became frictionless to do so because you were at home and you were a box on a, you were box on the screen and it was easy to do that. So what retains people, what retains people is that they feel meaning in what they do and they feel meaningful in helping the company. And if they do that, there's a far more likely chance that they will stay with you as opposed to just go somewhere else from everything that you learned. What in this new world of work? What do you think is the key thing that you can attract and retain employees? Is it more pay? Is it a flexible work schedule? What have you zeroed in on? It's not pay. So if, if I hire you and it's just because I'm paying you more, that's a transaction, that's nothing more than a transaction. There is no economic transaction, there's no no real relationship there. What creates the relationship of the employee to the company is purpose and culture. They need to believe that what they work they do is important and it's meaningful and it's meaningful to the company and that it relates to the purpose for which we exist. Another issue that's weighing on business leaders these days is recession. We all see the headlines every day is the economy going to go into recession. And if so how long, what's your thinking on this? I think we're seeing a tremendous wrestling match today between a stubbornly strong economy. On the one hand, frankly, one that has surprised many people. And on the other hand, a determined fed that is looking to lower inflation over time. Our belief is that we are in a very constructive economy right now. If you look globally, you see, uh you see that Europe is doing better than we thought China is doing better than we thought we've obviously hit peak inflation and that's coming down and that the economy in the U S is very strong. So we think we're going to have A sluggish outcome here eventually, but we won't necessarily go into recession. This is very important, especially for prudential because you manage more than $1 trillion dollars of clients money. How is all this fuzziness impacting the decision that you're making for your investment portfolio? So we invest for the long term for our clients. Our clients come to us for a variety of reasons. We manage assets across many different asset classes and each client has uh its own investment criteria. And we managed to those criteria, you mentioned the fed a moment ago. I mean, the fact that they're indicating that they're going to continue raising interest rates to combat inflation and they're going to stay high. That's actually a good thing for your investment portfolios, is that right? Absolutely. So higher interest rates is better for insurance company and lower interest rates, which we've been fighting for the past few years. Charlie. Let's talk about you and your path to the CEO job at Prudential. It's interesting that you started out in architecture. You went out to graduate school, you studied architecture, you taught architecture and then you even open your own architecture firm. Why did you like it so much? I loved architecture. I still love architecture, married to an architect. And so it's still a huge part of our life. I loved it because it involved art, involved science. It involved creating the built environment for people. It's just, it's a fantastic profession. So why did you change? Why did you change? What were you picturing in your new career path? Serendipity has a lot to do with, I think careers and my career is anything but, but linear. So I went back to business school because I thought I needed business experience, having run my own firm and being honestly fairly naive about running your own firm when you just straight out of graduate school. Uh and then went into business for a little while after business school thinking I'd always go back to architecture but never quite made it. So after 13 years in investment banking, prudential, who had been a client for 10 years called and said, would you like to be considered for a job at prudential? And I moved to prudential? Never would. I thought in my younger days that I'd be in business when I grew older and that you would become the ceo of a Fortune 500 company. Not in my wildest. Well, I understand that you like talking to employees at Prudential and you like to advise them and help them with their career choices. How much do you share your own personal story about going into architecture and then uh working your way into business? And is there any one piece of valuable advice that you'd like to leave with them? Yes. So I do share my story as an example of careers not being linear because I think many people think, gosh, I'm here. I want to travel on a single path and that as you well know that that doesn't happen very often. So if I give them a piece of advice, uh it's, it's twofold again, one careers won't be linear, linear. But second of all, follow your passion, follow what you really love because if you do that, you'll succeed. Well, you know, these COVID years has changed a lot of things including uh leadership. How has it changed your job as CEO? I mean, what are you doing more of and what are you doing? Less of you put on your suit and you came to work in your suit with your armor and you didn't really talk about home and business was business. The pandemic taught us a great deal about ourselves and about sharing ourselves and our vulnerabilities. So now my leadership style has changed in that one still has to be a strong leader, the CEO, but you also have to be an empathetic leader. You have to understand more about people and where they're coming from and what their situation is so that they can be as effective as employees as they can be. But also care for their own home life. And what is the reaction, tremendous change and a much deeper relationship and commitment by virtue of understanding again, other people's lives in a completely different nature than we had before following up on where we started our conversation. Tell us how leaving with purpose shape your leadership as CEO it shapes it in a number of ways, but beyond everything else, I'm the guardian of that purpose. I spend much of my days thinking about how purpose is infused in our strategy. I ask a lot of why questions. So in meetings, I'll ask, why is this product or this service helping our purpose? And if it's not, we'll throw it out maybe a good idea, but it's not consistent with our purpose of expanding access to more customers over time. And when you think about expanding access, that is a very big part of our purpose. And it's a very big part of my passion for what we do and why we do it is to expand access to more people so that they can have financial security over time.

The competition for talent has moved well beyond employers competing with one another to find the best workers. Now, as employees demand more flexibility and are driven by other non-monetary factors, managers also find themselves rethinking employee value propositions to address the new power and choices workers have. To build a resilient workforce of top talent, CEOs need to radically rethink ways of working—from embedding meaning and purpose in work, to developing opportunities for individuals to add new layers of skills, to fostering social capital within the organization to build networks and trust. Drawing on McKinsey & Company’s latest research, this session will explore what factors make employees happier, more productive, and more likely to stay–and how CEOs are driving business value by deploying a talent-first mindset. 

In partnership with McKinsey 

Moderator: Alan Murray, Chief Executive Oﬃcer, FORTUNE 

Participants: 

John Driscoll, Chief Executive Officer, CareCentrix 

David Heath, Co-founder and CEO, Bombas 

Jo Ann Jenkins, Chief Executive Officer, AARP 

Charles Lowrey, Chairman and CEO, Prudential Financial, Inc. 

Jeff Maggioncalda, Chief Executive Officer, Coursera 

Marc Rosen, Chief Executive Officer, JCPenney 

Christian Ulbrich, President and CEO, JLL 

Making the workplace work for people

Drawing on McKinsey & Company’s latest research, this session will explore what factors make employees happier, more productive, and more likely to stay.

I want to thank you all for being here today for this special ceo roundtable on the new realities of talent and the workplace and a special thanks to our partner Mckinsey and company for hosting this conversation. A good group of C. E. O. S here. I think all of you know the competitive struggle for talent is unlike anything certainly I've ever experienced. I think most of you have ever experienced before when we asked Fortune 500 ceos last month what their biggest challenge was, even though we're in the middle of a war in europe, you know, and approaching a possible recession, a redefinition of work Still, number one thing on their mind was Talyn um the the need to attract and retain good talent in the workforce. The pandemic has added this whole new dimension about where people work and when people work and how they work and even why they work. Uh and we want to talk about all that uh today, what are the uh what are the best best practices that you all have found? What are the factors that make employees happier more productive, more likely to stay with the company? Uh And and how are you as C. E. O. S. Driving business value By focusing on talent 1st. Um uh This is a this is a small group which is good. My intention is to engage all of you really want you to share your own insights and best practices. Uh If for some reason you don't want to be called on turn, turn off your camera but if your camera's on, I consider you fair game. So be prepared. Also a reminder that this conversation is on the record. Um, we will be reporting on it unfortunate. I'm planning to do something for the Ceo daily tomorrow. So, uh, if, if, if you have something to say that you don't want to be on the record, please make that very, very clear and use the chat. Um, I'm glad john driscoll has already commented on the introductory music. Uh, it's a great place for you to either ask questions or make smartass comments, whichever works for you. Um, uh, and, and I want to again, thank thank Mackenzie for setting this up, but I want to go to Bill Shannon her first. He's the guy on the screen that looks like the talk show host. He's a very good talker and he wrote a, wrote a wonderful piece on Fortune dot com uh, this morning that highlights some of the trends that uh, he has seen in Mackenzie research and I, I'd love for him to spend a couple of minutes just setting the stage for us and then we'll get into the conversation. Bill, thank you Alan and I do apologize for the gear. I can either look like I'm looks like I'm at a beta or or more plausibly the speaker and mic on my computer is not working properly. There we go. Um, yeah, you know, and it was interesting that the piece came out this morning right in terms about it, but the cycle time now on anything related on anything.

 SUSIE GHARIB: David, thank you so much for joining us. Your company, PGIM, is part of Prudential Financial, the huge insurance company. But many people don't know much about it. So tell us a little bit about what PGIM does. DAVID HUNT: PGIM is the 10th largest asset manager in the world. We manage $1.4 trillion, that's with a T, assets. And we do it across all of the major asset classes. In addition to public fixed income and public equities, we also are the second largest real estate investor in the world. And we have a very large private credit business. In fact, we're the third largest alternative player in the world. So we have a really broad scale of asset classes. In addition, we play very much as a global asset manager. We operate more than 30 offices across 16 countries, and we operate our business very much to serve both institutional and retail customers right around the globe. SUSIE GHARIB: Well, during the pandemic these past six months, you've been writing and talking a lot about the importance of stakeholder capitalism. And you say that one of the silver linings during this dark time is that many companies are stepping up and addressing the interests of their employees, and their customers, their communities that they serve, not just their shareholders. What are some of the changes that you can see? DAVID HUNT: Well, I think one of the really encouraging changes has been the level of investment and care that people have taken with their employees. I think you've seen company CEOs right across America, and indeed, in Europe as well, making sure that through this, their employees are well taken care of, that they have the tools that they need. They've stepped up in a fairly big way on education and helping people get settled in to work from home. And that investment in employee, they haven't viewed as an expense, but they've viewed that as a sign of future productivity in their employees. And I think that's very promising indeed. SUSIE GHARIB: So what else has surprised you as you look back at what some of these companies have been doing these past few months? DAVID HUNT: I've been really pleased to see the level of giving back into local communities that's happened. If I just take Prudential as an example, we've always been a major player in Newark, which has been our hometown for 140 years. But really with the pandemic, we have stepped up in a very big way from everything from contributing masks and protective equipment to actually upping our funding of a lot of minority owned and other businesses in the area. And many other companies have done the same. And I think it's been very heartwarming to see the care that people have taken in their communities. SUSIE GHARIB: Well, I was interested to learn that well before coronavirus hit, PGIM had already been supporting the communities that it serves. How did this all come about? Was this something that evolved naturally or was it intentional, something that you made happen? DAVID HUNT: I think it's been very intentional. It's a very important part of the character and culture of Prudential and of PGIM. The notion of service and the notion of giving back and that we really are here as part of a larger social fabric is very much how we think of ourselves. And so this is not new, but I would say that it's caused us to step up our level of engagement. And I think that that's been very positive. SUSIE GHARIB: Well, actually it seems that there is an expectation these days from employees and also from the public for business leaders to speak up and address social issues. Do you think that the job of CEO has changed? Do you have a moral responsibility to address these social issues? DAVID HUNT: Susie, I'm really glad you raised that, because I think that the expectation has changed. If I look at many of our clients, and many of them are big public pension plans, corporate plans, they're very interested in what our stance is on issues of diversity, issues around climate change, issues around governance. They're very interested in how we employ ESG technology to evaluate investments. And I think that this is a journey that they've been on for a while. But I think it's taken an enormous step forward now with the pandemic. And I expect that will continue. And personally, I welcome that. I think that that will lead to companies that have a broader set of stakeholders in how they actually govern themselves. SUSIE GHARIB: One of these days, the pandemic will come to an end. What's your prediction about the business community's commitment to being a good corporate citizen? Is this a short-term thing or a long-term commitment? DAVID HUNT: So I really do believe, I mean, again, we invest in companies for the long term. And companies that really do have a purpose and companies that do serve a broad range of stakeholders, in general, do better for their shareholders over the long term. And so I believe more and more companies will discover that through this pandemic. And I am very optimistic that the changes we've seen more recently will actually become part of the new normal as we come back out of this pandemic. SUSIE GHARIB: David, looking ahead, let's say two to three years from now, what meaningful changes would you like to see when it comes to the topics that we've been talking about? DAVID HUNT: So I think that the recent focus by many CEOs on social equality has been really, really important. And I have been very pleased to see the broad range of CEOs speaking out very openly and very publicly on taking an anti-racist stance. For ourselves, I'll just give you one specific example. We have for a long time had a very productive emerging managers program, where we invest in small asset managers that are largely minority owned. And these are very talented people who have very good investment track records but aren't getting large enough really to be on an institutional platform. And we work with them in kind of an accelerator fashion to get them to the point where they can get access. And, of course, when we invest in them, that provides a bit of a halo effect as well. And we've been really pleased at the success we've had in helping build more minority firms in asset management, which we desperately need. SUSIE GHARIB: David, that is impressive. And on top of that, it's a good example of your leadership during the nearly 10 years that you've been the CEO of PGIM. And I'm sure that during that time, you really haven't faced a leadership challenge like this global pandemic crisis. In what ways would you say that this crisis has changed or evolved the way you lead the company? DAVID HUNT: I think that the requirement on leaders in this last six months has been very different than normal. So often, we focus on strategic thinking, on some of the harder skills that we're all brought up to believe are critical for CEOs. But I would have said that in the last six months, motivation, empathy, compassion, and resiliency are probably much more. And if I think about how I'm spending my time, it's really with our employees and with our clients listening, making sure that I understand what they're going through, and providing as much support as I can to people who are in, no question, very unusual and difficult circumstances. 

David Hunt says the notion of service and giving back is part of the character and culture of the company.

PGIM CEO: Our business operates as part of a "larger social fabric"

David Hunt says giving back is part of the company culture.

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