New York Life Appoints Yoon CIO of New York Life Investment Management

Sep 18 2015 | 4:59pm ET

New York Life has appointed Jae Yoon to the newly created role of chief investment officer of its asset management subsidiary, New York Life Investment Management LLC (NYLIM), effective immediately.

In the new role, Yoon will chair the NYLIM Investment Governance Committee. He will work with portfolio teams at the investment management arms of New York Life and the company’s MainStay Investments division to ensure investment processes and results align with client expectations and those of 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, noted a press release. 

In addition to new responsibilities, Yoon will continue overseeing the company’s Strategic Asset Allocation and Solutions group, which manages asset allocation portfolios and provides economic and market research insights to NYLIM.

Yoon will report to Yie-Hsin Hung, CEO of NYLIM. “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,” noted Ms. Hung in a statement. “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. 

Yoon is a CFA charterholder and holds FINRA Series 3 and 7 registrations, according to the company.

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. The firm had assets under management of $330 billion as of June 30, 2015.

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