Scott Case
PRUDENTIAL FINANCIALAbout Scott Case
Scott Case is Executive Vice President, Head of Global Technology & Operations (GTO) at Prudential Financial, appointed in October 2024 and effective November 4, 2024; he oversees global information technology, cybersecurity, and enterprise operations including corporate real estate, global security, event management, PMO, and sourcing/procurement . He previously served as CIO at Truist, where he led the SunTrust–BB&T technology integration following their 2019 merger, and CTO for SunTrust’s consumer segment; earlier roles include John Hancock, First Union National Bank, and Bank of America . Education: B.S. SUNY Geneseo; MBA (Finance), UNC Charlotte Belk College of Business . Company performance context: PRU’s 2024 one‑year TSR was 19% with a 16th percentile rank versus its compensation peer group; 3‑year TSR 26% (50th percentile); 5‑year TSR 63% (49th percentile) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Prudential Financial, Inc. | EVP, Head of Global Technology & Operations | Appointed Oct 2024; effective Nov 4, 2024 | Oversight of IT and cybersecurity across global locations; responsibility for enterprise operations (real estate, security, events, PMO, sourcing/procurement) |
| Truist Financial | Chief Information Officer | Not disclosed | Led the technology integration of SunTrust and BB&T following 2019 merger; built integrated, digitally enabled functions in complex environments |
| SunTrust | Chief Technology Officer, Consumer Segment | Not disclosed | Delivered tech solutions supporting consumer lending, mortgage, retail banking, and private wealth management |
| John Hancock; First Union National Bank; Bank of America | Technology/Operations Leadership | Not disclosed | Led transformational change and innovative technology solutions across financial services |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TechBridge | Director | Not disclosed | Non-profit technology organization board service (as listed in WSJ executive profile) |
Fixed Compensation
- Specific 2024–2025 base salary, target bonus, and award values for Scott Case are not disclosed in public filings; PRU’s Compensation & Human Capital Committee sets senior executive pay using peer benchmarking and pay-for-performance principles .
- For 2024 NEOs (context): average 91% of total direct compensation was performance-based; annual incentive awards were funded at 106% of target at the company level .
Performance Compensation
- PRU’s incentive architecture for executives emphasizes a formulaic Annual Incentive Program and a Long‑Term Incentive Program (performance shares and RSUs) tied to ROE vs peers, BVPS growth (with guardrails), and stock price appreciation .
Annual Incentive Program – Company Metrics (2024)
| Metric | Target Scale Reference | Result | Factor |
|---|---|---|---|
| EPS (AOI basis) | Target: $14.20; Threshold: $9.94; Max: $18.46 | $13.73 (after standard adjustments) | 0.925 |
| Relative ROE vs peer median | Target: 0.0%; Threshold: −4.0%; Max: +4.0% | +0.3% | 1.025 |
| Operating Expense vs plan | Target: plan; Threshold: +$325M; Max: −$325M | +$11M | 1.000 |
| Customer Experience (NPS) | Scale established; values not shown here | Not disclosed | Not disclosed |
| Final Performance Factor | Weighted average of four metrics | — | 1.060 |
- Standard adjustments to EPS/ROE excluded actuarial assumption updates, limited variable investment income outside ±10% plan range, and removed impacts of unplanned transactions (e.g., GUUL reinsurance; exits of PGIM Wadhwani and Assurance IQ; sale of Argentina), net +$1.23 to EPS under the program .
Long-Term Incentive – Performance Shares Design and Outcome
| Component | Metric | Measurement | Outcome | Vesting |
|---|---|---|---|---|
| Performance Shares (2022–2024 cycle) | ROE vs Performance Peer Group; Adjusted BVPS growth (with interest‑rate guardrails); stock price | Relative and absolute metrics per preset scales | 81.5% of target shares delivered (below target) | 3‑year performance period; share payout |
Equity Ownership & Alignment
| Ownership Metric | Date | Value |
|---|---|---|
| Non‑derivative common shares owned (Form 3) | Event date 11/04/2024 | 0 shares |
| Derivative securities owned (Form 3 Table II) | Event date 11/04/2024 | None disclosed |
| Shares pledged as collateral | Policy level | Hedging/pledging not permitted under PRU policies |
| Share ownership guidelines | Policy level | Senior management subject to share ownership and retention policies; retain 50% of equity‑based awards until guideline met |
- Clawback policy: mandatory recovery for financial restatements and discretionary recovery for improper conduct causing or expected to cause adverse effects; covers all executive officers .
Employment Terms
- Severance and Change‑of‑Control: Executives (including NEOs) are covered by plan‑based severance; “double‑trigger” severance benefits apply upon involuntary termination without cause or resignation for good reason in connection with a change in control; equity awards designed to be “double‑trigger” where awards continue on substantially equivalent terms .
- No tax gross‑ups: PRU does not provide excise tax “gross‑ups” on perquisites or golden parachutes; perquisites are limited (e.g., aircraft usage reimbursed; cars/drivers; security for CEO/Vice Chair) .
- Risk oversight and cybersecurity: The Audit Committee receives regular reports from the Chief Information Security Officer and Head of Global Technology & Operations; GTO engages in cross‑functional cyber governance and incident response aligned with NIST/ISO frameworks .
- Compensation risk controls: high proportion of equity, multi‑year vesting, ownership/retention requirements; discretion limited to negative adjustments; hedging/pledging prohibited .
Investment Implications
- Alignment and retention: As a newly appointed EVP with policy‑driven ownership and retention requirements (50% of equity retained until ownership guidelines met) and clawbacks covering restatements/misconduct, incentives are structured toward long‑term value creation and risk‑sensitive execution in technology and operations .
- Insider selling pressure: Initial Form 3 disclosed zero share ownership as of November 4, 2024; watch for future Form 4 grants/transactions to assess upcoming vesting‑related supply dynamics; pledging/hedging prohibited, reducing alignment risks .
- Pay‑for‑performance signals: Company‑wide metrics used to fund incentives emphasize AOI EPS, relative ROE, expense discipline, and customer experience; 2024 factor at 1.060 and 2022–2024 performance share payout at 81.5% suggest balanced payouts and continued linkage to performance amid rate‑environment adjustments (BVPS guardrails) .
- Execution risk: GTO’s remit spans cybersecurity and enterprise operations; board‑level cyber oversight and AI governance frameworks support risk management as PRU expands digital modernization—key for evaluating operational resilience and technology ROI under Case’s leadership .