NEW YORK, June 1, 2017 /PRNewswire/ -- New York Life Investment Management (NYLIM) the global asset management business of New York Life, announces expanded roles for two senior leaders of its executive team. Kirk Lehneis, chief operating officer, adds the retail business, MainStay Funds and IndexIQ, to his portfolio, including global product development and marketing. John Grady, senior managing director and vice chairman of New York Life Investment Management International, will also serve as chief administrative officer, responsible for strategy, mergers and acquisitions, and business development.
Mr. Lehneis and Mr. Grady both continue to report to NYLIM CEO, Yie-Hsin Hung. Together, these moves support the company's strategic growth priorities while creating a more integrated management team. "Kirk and John have made tremendous contributions to NYLIM over the last several years as we've built out our international footprint and expanded our capabilities to meet the needs of a diverse, global investor community," said Ms. Hung. "Both have demonstrated outstanding leadership skills and an ability to lead organizations in these complex times. We congratulate them on their achievements, and look forward to their continued success in advancing our business strategy."
Ms. Hung continued: "The asset management business continues to experience change and disruption, and we need to constantly assess how well we are organized to meet the needs of our clients today and tomorrow. The changes we are announcing today are key to integrating our retail and institutional businesses more tightly to ensure we operate as a truly global business while remaining true to our multi-boutique model."
Additionally, NYLIM announces that Stephen Fisher, president of MainStay Funds, will retire in September after more than 14 years with the company. Until that time, Mr. Fisher becomes senior advisor to Ms. Hung. NYLIM will be hiring a new head of U.S. Distribution. In the interim, retail distribution roles which previously reported to Mr. Fisher will report to Ms. Hung. "We congratulate Steve for his outstanding achievements over the last 14 years, as we grew our fund business into a significant operation, and we wish him the best in his retirement," added Ms. Hung.
Kirk Lehneis. Mr. Lehneis joined New York Life in 2005 and has held a series of senior leadership roles including: strategic planning and implementation in support of NYLIM's strategic growth initiatives across alternatives, international expansion, and exchange traded funds; and heading up mergers and acquisitions, technology initiatives and training in support of the business. Prior to these roles, Mr. Lehneis led NYLIM's global product development efforts, the MainStay Board relationship team and project management office for the retail line of business. Before joining New York Life, Mr. Lehneis progressed through roles with GivingCapital, Inc., including director of Client Service and Product Development for donor-advised fund product distribution to the financial services market. He began his career by gaining sales and marketing experience with Unisys Corp. and Beenz.com, Inc. Mr. Lehneis earned his Bachelor of Arts degree from the University of Pennsylvania.
John Grady. Mr. Grady has held a number of senior advisory roles at the company including senior advisor to the president of New York Life Investments Group. He joined New York Life's asset management business as chief financial officer, after several years at New York Life Insurance Company where he was senior vice president responsible for Mergers and Acquisitions and the Treasury Department. Previously, he was executive vice president at Old Mutual. Mr. Grady received a Master of Business Administration from Boston University and a Bachelor of Science degree in Business Administration from Providence College.
About New York Life
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).** Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life's website at www.newyorklife.com for more information
*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/17/16. For methodology, please see http://fortune.com/fortune500/
**Individual independent rating agency commentary as of 8/9/16.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
New York Life Insurance Company
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SOURCE New York Life Investment Management