NEW YORK--(EON: Enhanced Online News)--New York Life’s Investments Group today announced the appointment of David G. Bedard as senior managing director and chief financial officer. In this role, Mr. Bedard will be responsible for financial and risk management for the Investments Group, which provides a broad range of investment and retirement solutions to institutional and retail clients and manages New York Life Insurance Company’s general account assets. He will report to John Kim, president of the Investments Group, and will serve as a member of the Senior Leadership Team.
“Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)”
Mr. Bedard worked for New York Life from 2007-2010, first as CFO for New York Life Investments1 and subsequently for the U.S. Life Insurance and Agency Division. He joins the company most recently from ING U.S., where he was president of the Annuities Business.
“David brings nearly three decades of experience in the global investment management and annuities business, and we are delighted to welcome him back to New York Life,” said Mr. Kim. “Our Investments Group continues to experience tremendous growth both as a global institutional and retail asset manager, and as a leading provider of retirement-focused solutions to companies and individuals. David’s expertise and knowledge of New York Life will be essential in helping us further our success in the years ahead.”
Mr. Bedard’s previous experience includes heading The Hartford’s Global Annuities Runoff Organization and serving as CFO for its largest division, the U.S. Wealth Management Group. He has also held senior roles for Massachusetts Mutual Life Insurance Company and Coopers & Lybrand LLP, where he became a partner.
Mr. Bedard graduated Nichols College cum laude majoring in accounting with a Bachelor of Science in Business Administration. He is a certified public accountant (CPA).
About New York Life's Investments Group
The Investments Group of New York Life includes: New York Life Investments, which ranks among the largest asset management firms in the United States*, managing assets through its multi-boutique structure; New York Life’s retail and group annuity businesses; and New York Life’s Retirement Plan Services, a highly-rated provider of bundled services to defined benefit and defined contribution plans. The Investments Group offers institutional and retail clients a broad range of guaranteed and traditional investment products and retirement solutions. Together with its affiliates and over 2,000 employees, the Investments Group of New York Life managed more than $388 billion in assets as of July 31, 2013.
*Source: New York Life Investments ranked 29th among the world’s largest money managers within Pensions & Investments, May 27, 2013. Rankings are based on total worldwide institutional assets under management for the year-end 2012. New York Life Investments assets includes assets of affiliated investment advisors.
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. Please visit New York Life’s website at www.newyorklife.com for more information.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May 20, 2013.
See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method%20 for methodology.
**Individual independent rating agency commentary as of 8/1/13.
1 "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.