Prudential Financial has selected two executives, Stephen Pelletier and Robert O'Donnell, for its group insurance and annuities businesses.

Commenting on the new appointments, Prudential Financial US Businesses Chief Operating Officer Charles Lowrey said that Steve was ideal to head Group Insurance and sustain Prudential’s commitment to the business.

"Under Steve’s leadership, Prudential Annuities established its position as a market innovator and leader," Lowrey added.

Currently serving as president of Prudential Annuities, Pelletier will replace Lori High to become President of the Group Insurance Business while Robert, also known as Bob, will move from his current position as Senior Vice President, Head of Product, Investment Management and Marketing for Prudential Annuities to become President of the Annuities business.

Having joined Prudential in 1992, Pelletier served as chairman and CEO of Prudential International Investments prior to leading the Annuities Business.

Pelletier was responsible for Prudential’s Investment Management Business in international markets, including China, Japan, Korea, Taiwan, Mexico, Germany and Italy as well as for the company’s offshore investment products.

Before joining Prudential, Pelletier also held executive positions at Chemical Bank and Manufacturers Hanover Trust.

According to Lowrey, Bob had a deep understanding of, and commitment to, Prudential Annuities as he was responsible for product development and management, and research.

"He has also led the independent investment advisory portion of the Annuities business and the Annuity Innovation Team that drives the firms’ creative process," Lowrery added.

Bob’s first 10 years of career focused on finance and operational disciplines at The Travelers Insurance Company and Mass Mutual.

Prior to joining Prudential in 2003, Bob worked at American Skandia in 1997 and led the development and implementation of variable annuities, life insurance, mutual fund, and qualified plan products.

Prudential had acquired American Skandia in 2003.