New York Life Names Naïm Abou-Jaoudé as CEO of New York Life Funding Administration
Vincent Hamelink to change into CEO of Candriam
Renato Guerriero to function Deputy CEO of Candriam
NEW YORK, Jan. 30, 2023 /PRNewswire/ — New York Life, America’s largest mutual life insurer1, at the moment introduced that Naïm Abou-Jaoudé has been named Chief Govt Officer of New York Life Funding Administration (NYLIM)2. Mr. Abou-Jaoudé is at present the CEO of Candriam, a world multi-specialist asset supervisor with $149 bn of belongings below administration3, energetic in 20 nations, and considered one of New York Life’s largest funding subsidiaries. Mr. Abou-Jaoudé can also be the Chair of New York Life Funding Administration Worldwide, a division of NYLIM. Mr. Abou-Jaoudé will report into Alain Karaoglan, Head of the Strategic Companies at New York Life.
Following a distinguished 30-year profession in funding administration, together with 16 years because the CEO of Candriam, Mr. Abou-Jaoudé will assume the function of CEO of the worldwide funding administration enterprise of New York Life on Could 1, 2023. He will probably be chargeable for NYLIM’s international multi-boutique operation, with places of work within the U.S., U.Ok., Europe, Asia, and Australia, and its diversified U.S. mutual fund and ETF working platforms.
“Naïm is an achieved chief within the international funding administration business with a powerful observe report of achievements as CEO of Candriam. I’m very assured within the management and imaginative and prescient that he’ll deliver to NYLIM within the years to come back,” stated Craig DeSanto, CEO and President, New York Life.
Over the previous decade, NYLIM has seen its belongings below administration greater than double to $371 bn4 by a mix of geographic expansions, natural initiatives, and acquisitions. As we speak, NYLIM’s worldwide enterprise represents 45% % of whole belongings below administration.
“Candriam is likely one of the fastest-growing asset managers in Europe, a hit story we’re very proud to share, doubling belongings below administration since Candriam was acquired. 5 I’ve full confidence that below Naïm’s route, NYLIM together with Candriam will proceed on their progress trajectories,” stated Alain Karaoglan.
Vincent Hamelink, Candriam Chief Funding Officer, will succeed Mr. Abou-Jaoudé as CEO of Candriam and Renato Guerriero, Chief Gross sales and Distribution Officer, will function Deputy CEO answerable for World Improvement and Distribution, each efficient Could 1, 2023. At the moment, Mr. Abou-Jaoudé will transition to Chair of the Board of Administrators at Candriam.
Naïm Abou-Jaoudé stated: “I’m honored to guide NYLIM as its CEO. I’ve been a part of the New York Life household for nearly a decade and through this time I’ve witnessed a agency that demonstrates the best rules of asset administration. I’m assured we’ll proceed to ship vital long-term worth to all our stakeholders.”
“I’m immensely proud to move Candriam’s management to Vincent Hamelink and Renato Guerriero, who’ve been instrumental within the firm’s progress, creating an funding platform that has persistently delivered long-term returns to traders and accelerating demand for the Candriam model. I look ahead to Candriam’s continued success below their management,” added Abou-Jaoudé.
Vincent Hamelink stated: “I’ve labored with Naïm for over 20 years, creating Candriam’s enterprise and funding platform that’s at the moment identified for its excessive performing fund administration capabilities and progressive funding options. It’s a privilege to take over the function of CEO and I’m assured that we are going to proceed to ship vital worth to our shoppers, shareholder, and all our stakeholders.”
About New York Life
New York Life Insurance coverage Firm (www.newyorklife.com), a Fortune 100 firm based in 1845, is the biggest mutual life insurance coverage firm within the United States1 and one of many largest life insurers on this planet. Headquartered in New York Metropolis, New York Life’s household of firms presents life insurance coverage, retirement earnings, investments, and long-term care insurance coverage. New York Life has the very best monetary power scores at present awarded to any U.S. life insurer from all 4 of the key credit standing companies6.
Candriam stands for “Conviction AND Accountability In Asset Administration” and is a European multi-specialist asset supervisor. A pioneer and chief in sustainable investments since 1996, Candriam has €139 bn of belongings below management3 and a staff of greater than 600 professionals. It operates administration places of work in Luxembourg, Brussels, Paris, and London, and has consumer representatives in additional than 20 nations all through continental Europe, the United Kingdom, the US, and the Center East. Candriam presents funding options7 in a number of key areas: bonds, equities, absolute efficiency methods, and asset allocation, with a broad and progressive vary of ESG methods protecting all its asset lessons.
New York Life Investments ranks among the many world’s largest asset managers8.
For extra data go to: www.candriam.com.
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New York Life
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1 Primarily based on income as reported by “Fortune 500 ranked inside Industries, Insurance coverage: Life, Well being (Mutual),” Fortune journal, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.
2 New York Life Funding Administration (NYLIM) refers to New York Life Funding Administration LLC and to New York Life’s international multi-boutique asset administration companies which incorporates MacKay Shields LLC, Candriam S.C.A., IndexIQ Advisors LLC, Apogem Capital LLC, and Ausbil Funding Administration Restricted. New York Life Funding Administration is a part of New York Life Investments, each a service mark, and the frequent commerce identify, of sure funding advisors affiliated with New York Life Insurance coverage Firm. New York Life Investments has $661 bn of AUM.3
3 Property below administration (AUM) are as of 12/31/2022 and embody sure belongings that don’t qualify as Regulatory Property Below Administration.
4 Consists of belongings of the funding advisers affiliated with New York Life Insurance coverage Firm, apart from Kartesia Administration, and Tristan Capital Companions, as of December 31, 2022.
5 Candriam was acquired by New York Life in February 2014.
6 Particular person unbiased score company commentary as of 10/18/2022: A.M. Greatest (A++), Fitch (AAA), Moody’s Buyers Service (Aaa), Normal & Poor’s (AA+).
7 Not all services can be found to all traders or in all areas.
8 Supply: New York Life Investments ranked twenty seventh among the many world’s largest cash managers inside Pensions & Investments, June 2022. Rankings are primarily based on whole worldwide institutional belongings below administration for the year-end 2021.
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SOURCE New York Life