NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Yie-Hsin Hung, CEO of New York Life Investment Management (NYLIM), the $317 billion1 global asset management business of New York Life, has been selected by American Banker as one of the Most Powerful Women in Finance in 2018, the second consecutive year she has received this recognition. Ms. Hung ranks #15 on the 2018 list, which annually recognizes the professional achievements and influence of the top-performing female executives in financial services.
"Last year the investment management unit Yie-Hsin leads introduced new products and expanded into new geographic markets. She is someone who consistently challenges herself to do better and we are pleased to have her on the list of the Most Powerful Women in Finance for the second consecutive year," said Bonnie McGeer, executive editor of American Banker and chair of the Most Powerful Women in Banking and Finance program.
During Ms. Hung's tenure, NYLIM has achieved a threefold increase in assets under management. She has accomplished this through a combination of geographic expansion, organic initiatives, and acquisitions, while staying true to her overall vision of combining the entrepreneurial energy of NYLIM's boutique investment firms with New York Life's unsurpassed financial strength and long-term orientation.
"Yie-Hsin has demonstrated excellent leadership in expanding New York Life Investment Management into new markets and asset classes while focusing even more tightly on its clients, and we congratulate her on this achievement," said Ted Mathas, Chairman and CEO of New York Life. "Her drive and insight have been crucial to NYLIM's trajectory of success, which contributes to the safety and security New York Life provides to those who rely on us. We once again applaud her on this wonderful recognition in 2018."
Ms. Hung joined New York Life in 2010 after holding senior roles at Bridgewater Associates and Morgan Stanley Investment Management. She received a BS in Mechanical Engineering from Northwestern University and an MBA from Harvard Business School. She is a member of New York Life's Executive Management Committee.
The full rankings can be found here.
About American Banker's Most Powerful Women in Banking
American Banker's Most Powerful Women in Banking recognizes the professional achievements and influence of top-performing female executives in banking and financial services. The annual program, now in its 16th year, encompasses the following lists: the 25 Most Powerful Women in Banking, the 25 Women to Watch, the 25 Most Powerful Women in Finance, and the Top Teams in Banking. Rankings and details about the awards dinner are available at https://www.americanbanker.com/women-in-banking.
About New York Life
New York Life Insurance Company (www.newyorklife.com), 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. 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 has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies.**
*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/1/18. For methodology, please see http://fortune.com/fortune500/
**Individual independent rating agency commentary as of 7/30/2018: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+)
1 Assets under management as of 12.31.17.
New York Life Insurance Company
SOURCE New York Life