New York Life announced that vice chairman John Y. Kim has been elected effective immediately. The president’s role has been held by chairman and CEO Ted Mathas, who was elected to the position of president in 2007. Kim continues reporting to Mathas, who remains chairman of the board and chief executive officer. Kim retains the role of chief investment officer of New York Life, as well as overall responsibility for the investments group and enterprise-wide technology. With his promotion to president, the company’s largest business unit, the insurance & agency group, has been added to his current responsibilities.
Meanwhile, Mathas also announced that Chris Blunt will return to investments to run the group as its president, reporting to Kim. Blunt joined the company in 2004 as head of New York Life Investments’ Retail Investments strategy, where he was successful in growing Investments’ sales of mutual funds through all of its distribution partners. He most recently headed the insurance & agency group with co-president Mark Pfaff.