Yie-Hsin Hung was named CEO of New York Life Investment Management, spokeswoman Jacqueline Meere said.
Effective immediately, Ms. Hung replaces Drew Lawton, who decided to retire at the end of this year. Mr. Lawton is now a special adviser to Chris Blunt, president of the parent company's investments group.
Ms. Hung reports to Mr. Blunt.
Ms. Hung was previously co-president of NYLIM. Stephen Fisher, formerly co-president, is now sole president of the money manager.
NYLIM had $289 billion in assets under management as of Dec. 31.