A decade ago, Prudential Investments began its transition
from a firm that sold its mutual funds
exclusively through the proprietary channel into one that distributes mainly via
third parties. Judy Rice, a 17-year Prudential veteran, oversaw that shift.
Today, more than 86 percent of Prudential's flows stem from third parties.
In addition, Prudential's flow mix and net flow rankings have gone up in the channels
where it does business. At the close of June, flows were net flow positive by more than $1 billion.
Prior to being promoted to her current post, Rice served as executive vice president, director of program management from 1999 to 2002. Her duties
included oversight of Prudential Investments Advisory Group, a unit created in July 1998
to provide third-party advisors access to Prudential's product menu.
Rice, who serves on the board of the Investment Company Institute and is an interested director on the Retail Mutual Fund Board, joined Prudential Financial in 1992 in the securities division, where she built a fee-based product line.
Earlier, she spent 17 years with Shearson Lehman Advisors. There, she was responsible
for product management and development of affiliated investment advisory products.
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