New York Life Insurance Co. announced today that effective January 1, 2011, Executive Vice President John Y. Kim will add the title of Chairman of New York Life Investments, the role currently filled by Gary Wendlandt, who is retiring at the end of the month after nearly 40 years in the industry. Kim is currently president and CEO of New York Life Investments and will carry the title of chairman and CEO of that division going forward. The president’s title will not be used.
New York Life Investments, with more than $275 billion in assets under management, is a wholly-owned subsidiary of New York Life Insurance Company, the largest mutual life insurance company in the United States and one of the largest insurers in the world.
As previously announced, Kim will also become chief investment officer of New York Life Insurance Company on January 1, 2011, a role also currently filled by Wendlandt. Kim also is a member of the Executive Management Committee, which is comprised of New York Life’s senior executive leadership and assists the CEO in setting policy for the company. Kim reports to Ted Mathas, chairman and CEO of New York Life Insurance Company.
Kim joined New York Life in 2008 after a 25-year record as a successful business executive with deep knowledge of investment management and strong operational skills running numerous businesses. Prior to joining New York Life he had been president of Prudential Retirement, where he led its defined benefit, defined contribution and guaranteed products businesses, and before that he was president of CIGNA Retirement and Investment Services.
He also spent 17 years with Aetna Life & Casualty, where he rose to the position of CEO and chief investment officer of Aeltus Investment Management as well as CIO of Aetna Life Insurance and Annuity Company. Kim is a graduate of the University of Michigan and holds an MBA degree from the University of Connecticut.
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