Brendan Gundersen was named managing director at MainStay Investments’ newly formed institutional intermediary channel, a spokesman said.
The position is new. Mr. Gundersen will lead, build and grow the new institutional intermediary channel. Responsibilities include identifying and overseeing opportunities with private banks and trusts, defined contribution investment-only and research platforms.
Mr. Gundersen will be based in New York and report directly to Stephen Fisher, president of MainStay Investments and co-president of parent company New York Life Investment Management.
Mr. Gundersen was a managing director at BlackRock’s iShares business. BlackRock spokesman Brian Beades could not be reached by press time for replacement information.