Julie Broderick had 15 years of experience as a securities regulator and a propensity for speaking her mind before joining Prudential Financial Inc. as an investigative supervisor in 2012. When she sought this year to learn more about possible sales abuses by one of the insurer’s business partners, she said, the message from her company was clear: “Don’t rock the boat, don’t speak up, toe the party line and your job will be safe.”
Then she was fired along with two colleagues. They responded with a whistle-blower lawsuit containing allegations that led to state probes about whether Wells Fargo & Co. signed up people for Prudential’s MyTerm insurance without their permission. And even after the insurer halted sales through the bank last week, Broderick is calling out her former employer and saying the company let down customers.
Reprinted courtesy of David Voreacos, Bloomberg and Katherine Chiglinsky, Bloomberg