Prudential Fixed Income’s Kay Willcox to retire

Prudential Fixed Income sets transition plan for core portfolio management team as fixed income executive plans retirement for second half of 2014

Business Wire

NEWARK, N.J.--(BUSINESS WIRE)--

Prudential Fixed Income announced today that Kay Willcox, managing director and senior portfolio manager of its Core Fixed Income strategy, plans to retire in the second half of 2014, completing what will be a 27-year career with the company. Prudential Fixed Income, among the largest U.S. fixed income managers, is a business of Prudential Financial, Inc. (PRU).

To ensure an orderly transition, Richard Piccirillo, a principal and portfolio manager, will assume many of Willcox’s responsibilities over the coming months and will take a lead role when she retires. Piccirillo has worked with Willcox for more than 15 years at Prudential Fixed Income, which emphasizes a collaborative team approach in its investment process.

“We are very grateful for Kay’s many years of excellent work at Prudential,” said James Sullivan, head of Prudential Fixed Income. “Her vast skill set and tireless dedication helped us achieve many of our successes and she has been a key contributor to the growth of our firm. She truly is an asset to Prudential Fixed Income and we wish her well in her retirement.”

Willcox, who joined Prudential Financial in 1987, manages more than $19 billion in multi-sector fixed income strategies for institutional clients, including intermediate and long duration portfolios. She also serves as a senior investment officer for Prudential Fixed Income and back-up portfolio manager for its Core Plus Fixed Income strategy.

Previously, Willcox worked as a mortgage-backed securities portfolio manager for Prudential Fixed Income’s U.S. Liquidity Team. She has specialized in mortgage-backed securities since she first joined the firm. Earlier, Willcox managed a segment of The Prudential Insurance Company of America’s proprietary portfolio. She also managed mutual fund fixed income portfolios and handled mortgage-backed security analysis and trading.

Willcox began her investment career in 1982 in the futures division of Shearson Lehman Brothers before joining Prudential. She received a bachelor’s degree in mathematics from the University of Texas and an MBA in finance from Columbia University.

Piccirillo, who joined Prudential in 1993, serves as senior portfolio manager for Prudential Fixed Income’s Short/Intermediate Core and Core Plus Fixed Income strategies and is a portfolio manager for its Global Rates and Securitized Products team. Before joining Prudential, he was a fixed income analyst with Fischer Francis Trees & Watts. Piccirillo started his career as an analyst at Smith Barney, assisting in overseeing the fixed income trading desks for the planning and analysis department. He received a BBA in finance from George Washington University and an MBA in Finance and International Business from New York University.

Prudential Fixed Income, with $397 billion in assets under management as of September 30, 2013, 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 http://www.prudentialfixedincome.com.

Prudential Financial, Inc. (PRU), a financial services leader with more than $1 trillion of assets under management as of September 30, 2013, 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.

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