New York Life has combined its general account and third-party asset management businesses to deliver a unified global platform beginning Jan. 1, offering comprehensive investment capabilities across public and private markets.
With about $785 billion in assets under management, the combined investment organization will be led by Naïm Abou-Jaoudé, who has most recently served as CEO of New York Life Investment Management and brings more than three decades of asset management experience to the role.
Portfolio management teams will maintain investment autonomy, helping them ensure they can continue to leverage differentiated strategies to meet evolving client demands. There are also significant investments planned across asset origination, product development, distribution, brand, technology and infrastructure.
“Bringing our two investment organizations together allows us to harness our collective strengths, foster collaboration and drive innovation in a way that positions us to accelerate our growth and better serve our clients,” Abou-Jaoudé said in a statement.
