Jae Yoon Appointed Chief Investment Officer of New York Life Investment Management

NEW YORK, September 17, 2015 – New York Life announced today the appointment of Jae Yoon, 48, to the newly created role of chief investment officer (CIO) of New York Life’s asset management subsidiary, New York Life Investment Management LLC (NYLIM), effective immediately.

In his role as CIO, Mr. Yoon will chair the NYLIM Investment Governance Committee and partner with the portfolio teams in New York Life’s and MainStay Investments’ boutiques and affiliates to ensure that investment processes and results align with the expectations of their clients and New York Life. While bringing a level of investment oversight, his engagement will remain true to NYLIM’s multi-boutique approach where the integrity, autonomy and independence of the portfolio management teams in the firms’ boutiques and affiliates is preserved and maintained. Mr. Yoon will continue to oversee the Strategic Asset Allocation and Solutions group, which manages asset allocation portfolios and provides economic and market research insights for New York Life and its clients. Mr. Yoon reports to Yie-Hsin Hung, chief executive officer of NYLIM.

Ms. Hung said, “As NYLIM has grown into a global asset manager, it is important for us to maintain consistently high standards of governance and investment discipline in our business. Creating a dedicated CIO role is the logical next step as we build out our global management structure.”

Stephen Fisher, president of NYLIM, added, “With Jae’s deep knowledge of our firm and our investment boutiques, combined with his investment experience and institutional insights, he is extremely well positioned for this key role. We look forward to many more contributions from Jae in the years ahead.”

John Kim remains President and Chief Investment Officer of New York Life Insurance Company.

Mr. Yoon joined NYLIM as a managing director in 2005. He most recently served as the CIO of the Strategic Asset Allocation and Solutions group. Previously, he was responsible for risk management efforts at boutique affiliate MacKay Shields. Prior to joining NYLIM, Mr. Yoon was head of Quantitative Research, Analytics, and Risk Management at Western Asset Management. Previous roles include serving as head of Risk and Performance for the EMEA-Pacific regions of Merrill Lynch Investment Managers and regional head of Risk Management Control for Fixed Income and Equity Derivative Trading at J.P. Morgan Securities in Asia. Mr. Yoon earned his master’s degree in Operations Research and bachelor’s degree in Electrical Engineering from Cornell University. Mr.Yoon is a CFA® charterholder and holds FINRA Series 3 and 7 registrations.

NYLIM is a leading multi-boutique investment management firm providing a wide array of fixed income, equity and alternative investment capabilities and solutions to a broad range of institutional and individual investors around the world. Its strategy has been very successful, with assets under management as of June 30, 2015 at $330 billion.

About New York Life Insurance Company

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. New York Life Investments ranks among the world's largest asset managers****.

*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/15/15. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 8/11/15.
***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.
****Source: New York Life Investments ranked 26th among the world’s largest money managers within Pensions & Investments, May 18, 2015. Rankings are based on total worldwide institutional assets under management for the year-end 2014. New York Life Investments assets include assets of affiliated investment advisors.