New York Life CIO Appointed President

The CIO of the US’ biggest life insurer has been appointed president of the company in a senior management reshuffle.

New York Life’s Vice Chairman and CIO John Kim has been elected president with immediate effect, the company said yesterday. He replaces Ted Mathas, chairman and CEO, who was elected president in 2007.

Kim retains his CIO role and duties within New York Life’s investment division, while taking on responsibility for the Insurance & Agency Group. Kim joined in 2008 to lead the insurer’s investment capability and assets under management have doubled under his leadership, Mathas said.

“With his broad and deep experience and judgment, the board and I know John will continue making high-impact contributions overseeing all of our business operations in his new role as president of the company,” Mathas added.

Prior to joining New York Life, Kim was president of Prudential Retirement. He was also president of CIGNA Retirement and Investment Services, and held CEO and CIO positions within the investment and insurance divisions of Aetna Life & Casualty.

As part of the reshuffle, Chris Blunt has been appointed president of the company’s investment division. He joined the insurer in 2004 as head of retail investments before taking charge of the Insurance & Agency Group. Agency operations are currently led by Mark Pfaff, who plans to retire at the end of this year.

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