John Y. Kim, president and CEO of New York Life Investment Management, will take on the additional title of chief investment officer of parent company New York Life Insurance when Gary Wendlandt retires at the end of 2010.
In his new role, Mr. Kim will oversee management of the parent company's general account, which had $157 billion in assets at the end of 2009.
Mr. Wendlandt also is vice chairman of the parent company and chairman of the money management subsidiary. Mr. Kim will become chairman of NYLIM when Mr. Wendlandt retires, a New York Life spokeswoman said. The vice chairman's role will not be filled, she said.