New York Life Insurance Company has named John Kim, executive vice president, as the new chief investment officer (CIO). He will continue to report to Ted Mathas, chairman and CEO of New York Life. Vice chairman and CIO Gary Wendlandt has elected to retire at year-end.

Mr Kim is currently president and CEO of New York Life Investments, the wholly-owned investment management subsidiary of New York Life, and will continue in that role along with the new responsibilities as CIO.

Mr Kim joined New York Life in 2008. Prior to joining the company, he had been president of Prudential Retirement, and before that he was president of Cigna Retirement and Investment Services.

In addition, Mr Kim also spent 17 years with Aetna Life & Casualty, where he rose to the position of CEO and CIO of Aeltus Investment Management and also CIO of Aetna Life Insurance and Annuity Company.

Mr Mathas said: “We are fortunate to have another accomplished senior executive to assume the position of chief investment officer upon Gary’s retirement at year-end.

“With John’s broad and deep experience and judgment we know he will continue making important contributions in the position of chief investment officer.”