Prudential Retirement, a business unit of New York-listed financial services conglomerate Prudential Financial, has closed its seed stage-focused corporate venturing group, Gibraltar Ventures.
Most of the Gibraltar team, however, including managing director George Castineiras, are being “repositioned” inside Prudential as they help the company build a new innovation strategy around designing, acquiring and partnering with startups rather than investing in them at seed stage.
Prudential confirmed the changes through a spokesperson, who said: “We implemented an organisational change in early…
