Brendan Gundersen Joins MainStay Investments to Head Institutional Intermediary Channel
NEW YORK, December 22, 2014 – MainStay Investments ("MainStay"), a New York Life company, announced today that industry veteran, Brendan Gundersen, has joined the organization to head the Institutional Intermediary Channel.
Brendan Gundersen joins MainStay as a Managing Director and will be responsible for leading, building and growing the Institutional Intermediary Channel, identifying and overseeing opportunities with Private Bank and Trust; Large RIAs; Defined Contribution Investment Only (DCIO); and Research Platforms. Based in New York, Mr. Gundersen will report directly to Stephen Fisher, Co-President of New York Life Investment Management and President of MainStay Investments.
With 20 years of industry experience, Mr. Gundersen was previously Managing Director at BlackRock iShares, where he was responsible for building a market-leading business and strong partnerships across a variety of private bank and institutional clients. Prior to this role, Mr. Gundersen was in leadership roles at GE Asset Management, most recently, Vice President, Global Leader of the Sub-Advised Channel for Institutional Business. He started his career at Standard and Poor’s Ratings Group. Mr. Gundersen received his MBA in Finance from Albany State University and his BS in Marketing from Plattsburgh State University. Mr. Gundersen holds FINRA Series 7, 64, 65 and 24 registrations.
Mr. Fisher said: "We are very pleased to welcome Brendan to lead in this important role at MainStay. He brings invaluable experience in the institutional intermediary business, where we see tremendous opportunity and potential for our firm. His leadership will be instrumental in working closely with third party distribution and our boutiques to best leverage our capabilities with fiduciary clients. Brendan’s leadership will bring our talented and tenured teams together - while expanding our presence, reputation and reach into the institutional market."
"With New York Life Investment Management acquiring IndexIQ, the leader in the liquid alternative ETF space, the firm is carving out a unique space for itself in the asset management business. IndexIQ will create a significant ETF solutions advantage for the firm, complementing the significant range of alternatives, traditional mutual funds, private equity and hedge funds available to the institutional investor," said Mr. Gundersen. "I am excited to join the New York Life family and leverage the rich breadth of solutions to help the institutional community make informed decisions as they build out their client portfolios."
About MainStay Investments
With more than $101 billion in assets under management as of October 31, 2014 across retail mutual funds and variable product sub-accounts, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today's financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States1 and one of the largest life insurers in the world. Please visit www.mainstayinvestments.com for more information.
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 States1 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+).2 Headquartered in New York City, New York Life offers life insurance, retirement income, investments and long-term care insurance through our family of companies. New York Life Investment3 provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit www.newyorklife.com for more information.
1. Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/16/14. For methodology, please see fortune.com/fortune500.
2. Individual independent rating agency commentary as of 8/13/14.
3. 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.
For additional information, please contact:
New York Life Insurance Company
New York Life Insurance Company