New York Life Appoints Malloy as Chief Investment Officer

NEW YORK, Jan. 17 -- New York Life Insurance, a mutual life insurance company, issued the following news release:

New York Life announced the appointment of Tony Malloy as the company's chief investment officer (CIO), responsible for all of the assets that back the company's guarantees and obligations. Mr. Malloy takes on the CIO role after serving for more than five years as head of the organization now known as NYL Investors, which oversees more than $225 billion in fixed income and real estate investments on behalf of policy owners, clients and select strategic partners. He will continue to hold the title of chief executive officer of NYL Investors.

Mr. Malloy assumes the position from New York Life President John Kim, who has served as CIO since 2010. Mr. Malloy reports to Mr. Kim. In recognition of his expanded role, Mr. Malloy also joins New York Life's Executive Management Committee (EMC), which is headed by New York Life Chairman and CEO Ted Mathas.

"The chief investment officer role is especially critical in a mutual insurance company given our long-term financial orientation and singular focus on being there for our policy owners whenever they need us," said Mr. Kim. "Tony and the investment teams he oversees have performed masterfully in the face of relentlessly low interest rates and volatile equity markets. We congratulate him on this achievement and look confidently forward to his stewardship of the company's General Account."

Mr. Malloy brings more than 25 years of investment management and financial services experience to the CIO position. He joined New York Life in 1999 and previously held the role of senior managing director and head of fixed income. He also served as managing director and head of leveraged finance. Prior to New York Life, Mr. Malloy held positions of increasing responsibility in lending, risk management and debt capital markets at other financial institutions. He received a Bachelor of Arts degree from Middlebury College and holds an MBA degree from New York University.

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 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.

EditorVail-5759008 EditorVail