Prudential names Bruce Karpati chief compliance officer for its mutual fund business

Prudential names Bruce Karpati chief compliance officer for its mutual fund business

NEWARK, N.J.--(BUSINESS WIRE)-- Bruce Karpati has been named chief compliance officer for Prudential Investments, the mutual fund manufacturing and distribution business of Prudential Financial, Inc. (NYS: PRU) , the company announced today. In addition to leading compliance for Prudential's registered investment advisory company, he also serves as the chief compliance officer for its mutual funds boards.

Karpati spent more than a decade at the Securities and Exchange Commission, most recently as national chief enforcement officer for its asset management unit, leading enforcement efforts involving investment advisers, investment companies, mutual funds and private funds. His appointment at Prudential is effective Monday, May 13, 2013.

"We are proud to have Bruce join Prudential as we earn the trust of our investors every day," said Lee Augsburger, Prudential Financial's chief ethics and compliance officer. "His unparalleled, intimate knowledge of issues that affect mutual fund companies and investors—from valuation, disclosure, mutual fund board governance and other controls—will be invaluable to our business as we seek to offer investment options that provide the best potential for investors to meet their financial goals."

While serving at the SEC during Chairman Mary Schapiro's tenure, Karpati oversaw approximately 60 cases covering every aspect of the asset management industry. He also led nationwide risk initiatives in several areas, and led efforts related to policy making and understanding emerging risks. Before serving as national chief enforcement officer at the SEC, Karpati was also an assistant regional director, a former branch chief and an attorney. Earlier, he was an associate at the Washington, D.C., law firm of Dechert LLP, where he counseled clients on investment company issues.

Karpati, holds a law degree from the University at Buffalo Law School and was a member of the Buffalo Law Review and the Buffalo Journal of International Law. He earned a bachelor's degree in international relations from Tufts University.

Prudential Financial, Inc. (NYS: PRU) , a financial services leader with approximately $1.061 trillion of assets under management as of March 31, 2013, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit

Prudential Financial, Inc.
Theresa Miller, 973-802-7455

KEYWORDS:   United States  North America  New Jersey


The article Prudential names Bruce Karpati chief compliance officer for its mutual fund business originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story