Prudential Insurance Co. has hired an executive from PaineWebber Group Inc. to run its mutual fund and annuity business.

The Newark, N.J.-based insurer announced last week that David R. Odenath Jr. had been named president of Prudential Investments as of today. He reports to John Scicutella, the chief executive officer of Prudential Individual Financial Services.

Mr. Odenath had been senior vice president and director of sales for the investment consulting group of PaineWebber. He oversaw multiple distribution channels and 13 product lines.

Before joining PaineWebber, Mr. Odenath was a managing director at Hyperion Capital Management.

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