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Shaking It Up

Prudential treasurer Bernie Jacob is pushing the envelope in an already cutting-edge treasury operation

By Beth Karlin | Updated on May 01, 2007

When Prudential Financial Inc. recently shopped for a bank to provide financing for one of its operating units, it turned tradition on its head. The Prudential treasury structured the deal itself and then asked institutions to bid for the business. As a result, says Prudential treasurer Bernie Jacob, Prudential pocketed the structuring fee and made sure it got the best possible deal.

Jacob likes to shake things up. In the eight months since becoming treasurer, he has managed to change the way the company does business with its banking partners and expand upon the already visionary strategy in business unit partnering implemented by his predecessor Chuck Chaplin. “I took a foundation that Chuck laid before he left and built out a business system,” says the 51-year-old Jacob.

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