New York – New York Life Insurance Co. announced that John Kim will join the company on April 14 as an EVP, and will head its investment management arm, New York Life Investment Management LLC (NYLIM), as its president and CEO. He succeeds Brian Murdock, who has left the company.
Sy Sternberg, chairman and CEO of New York Life, says, “Our investment management operations, with $250 billion in assets under management, are an integral part of New York Life, contributing more than a billion dollars in operating revenue and more than $200 million in operating earnings. We are fortunate to have a senior executive of John Kim’s experience and skill to run these substantial operations. John will report to Ted Mathas, who is our president and COO. As previously announced, Ted will become CEO of New York Life on July 1, 2008.”
Kim has a 25-year track record as a business executive with knowledge of the investment management and retirement businesses. He previously was president of Prudential Retirement where he led their defined benefit, defined contribution and guaranteed products businesses. Prior to joining Prudential, Kim served as president of CIGNA Retirement and Investment Services. He spent 17 years of his career with Aetna Life & Casualty where he rose to the position of CEO and CIO of Aeltus Investment Management. He also served as managing director and head of Fixed Income at Mitchell Hutchins Institutional Investors.
Source: New York Life
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