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New York Life Investment names new chairman

New York Life Insurance has named executive vice president John Kim as new chairman of New York Life Investments, effective from 1 January 2011.

Kim will replace Gary Wendlandt, who is retiring at the end of the month after nearly 40 years in the industry.

The insurer said that Kim, currently president and CEO of New York Life Investments, will carry the title of chairman and CEO of Investments going forward. The president’s title will not be used.

As previously announced, Kim will also become chief investment officer of New York Life Insurance on 1 January 2011, a role also currently filled by Wendlandt.

He is also 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 will report to Ted Mathas, chairman and CEO of New York Life Insurance.

Kim joined New York Life in 2008 with 25 years of experience. Prior to joining New York Life he had been president of Prudential Retirement, and before that he was president of CIGNA Retirement and Investment Services.

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 Cinga Retirement and Investment Services. He also spent 17 years with Aetna Life & Casualty.