MacKay Shields Appoints Senior Macroeconomist Steven M. Friedman To Global Fixed Income Team

NEW YORK, May 21, 2019 /PRNewswire/ -- MacKay Shields ("MacKay") an investment management firm focused on fixed income, private credit and equity investing, today announced that industry veteran Steven M. Friedman has joined the firm as Senior Macroeconomist and Managing Director. Mr. Friedman brings to MacKay 21 years of macroeconomic experience, including 15 with the Federal Reserve Bank of New York.

In this newly created position, Mr. Friedman will report directly to Dan Roberts, Ph.D., MacKay's Head of Global Fixed Income (GFI), Chief Investment Officer and Executive Managing Director. Working closely with Roberts, Friedman is responsible for leveraging GFI's tenured philosophy, process and framework to gain insights into current and future macroeconomic conditions. These insights are instrumental in shaping GFI's investment policy and portfolio asset allocation recommendations for institutional offerings and mutual funds.   

"Steven's macroeconomic framework as well as his many years of professional experience within the financial markets will be a great fit and complement to our existing top down approach," said Dr. Roberts. "We welcome him to the team and look forward to leveraging his insights and perspectives for our global investment portfolios."  

Jeffrey Phlegar, Chairman and Chief Executive Officer, added, "Steven is a welcome addition to our Global Fixed Income teams' resources. His prior 15-year experience with the Federal Reserve of New York will undoubtedly add to the existing breadth of our team."

Mr. Friedman also joins MacKay's Global Fixed Income Team's Investment Policy Committee.

About Steven M. Friedman

Mr. Friedman joins MacKay from BNP Paribas Asset Management (originally Fischer Francis Trees & Watts), where he served as a Senior Economist providing macroeconomic forecasts and scenario analysis for internal investment teams as an input into strategic and tactical asset allocation. Prior to that, Mr. Friedman previously served as Director of Market Analysis and Foreign Exchange and Investments at the Federal Reserve Bank of New York, where he held a variety of senior roles for more than 15 years. Mr. Friedman received his bachelor's degree from Wesleyan University and holds master's degrees from Johns Hopkins – School of Advanced International Studies and Columbia Business School.

About MacKay Shields LLC

MacKay Shields is a fixed-income, private credit and equity investment management firm with $116 billion in assets under management as of March 30, 2019. MacKay Shields manages assets for institutional clients, high-net-worth individuals and mutual funds. MacKay Shields LLC is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC.  For more information visit: www.mackayshields.com and connect with us on LinkedIN and Twitter.

Media Contact:

Allison Scott | New York Life | 212.576.4517 | [email protected]

SOURCE MacKay Shields LLC

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