Prudential Loses Retirement CIO to Competitor

After nearly 30 years, the managing director departs for Mutual of Omaha.

Prudential Financial’s US retirement business CIO Richard Hrabchak has quit for another life insurer after a 29-year career with the New Jersey-based giant. 

Hrabchak moved to Mutual of Omaha, where he is likewise CIO, the insurer announced late last week. 

He takes on responsibility for Mutual’s investment portfolios, including the general account.

Hrabchak spent nearly three decades at his last employer. Beginning in 1987 after earning his MBA at the University of Pennsylvania, he climbed to managing director in 2003 and retirement division CIO in 2008. 

“In addition to extensive investment and portfolio management experience, Rick brings an impressive leadership style, a strong performance ethic and an appreciation for the culture of mutual insurance companies,” said Dave Diamond, Mutual of Omaha’s CFO, in a statement. 

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