Harris, who has served as authorized chief for the monetary providers and insurance coverage big since October 2015, will stay with Prudential via the primary quarter of 2021 to help with the transition.
“On behalf of the entire leadership team, we’d like to thank Tim for his meaningful contributions to Prudential and congratulate Ann on her new role,” Prudential Chairman and CEO Charles Lowrey mentioned in an announcement. “This smooth transition is a testament to the deep bench of talent and culture of internal mobility that was cultivated under Tim’s leadership.”
Kappler takes over as Prudential and lots of different main insurance coverage suppliers are grappling with the monetary fallout from a surge in claims spurred by the Covid-19 pandemic.
In May, Prudential mentioned it anticipated to take a $200 million earnings hit this 12 months as a result of life insurance coverage claims and associated funding losses.
Kappler, a former Supreme Court docket clerk, has been an appellate litigation companion at Jenner & Block, common counsel at Fannie Mae, and a companion at Wilmer Cutler Pickering Hale and Dorr in Washington. There, she labored within the agency’s monetary establishments, litigation, and public insurance policies and techniques follow teams.
She joined Prudential in 2009 as chief authorized officer for a subsidiary. In her new function, Kappler will develop into a part of Prudential’s govt management group and report on to Lowrey.
Harris, a proponent of accelerating range and inclusion within the authorized career, is a member of the Management Council on Authorized Variety. He joined Prudential in 1988 and over the subsequent three a long time held a wide range of management roles on the Newark, N.J.-based firm, together with deputy common counsel and chief authorized officer for Prudential’s U.S. companies.
Bloomberg Regulation information exhibits that labor and employment authorized big Seyfarth Shaw has dealt with roughly 42% of Prudential’s U.S. litigation work inside the previous 5 years. In April, Prudential turned to Debevoise & Plimpton to advise on the $1.9 billion sale of its South Korean life insurance coverage enterprise.