Opalesque Industry Update - New York Life announced today that Naïm Abou-Jaoudé, 49, has been appointed chairman of New York Life Investment Management International, the international arm of New York Life Investment Management LLC, responsible for leading NYLIM’s efforts outside the United States. Mr. Abou-Jaoudé, who joined the Executive Committee of NYLIM International as vice chairman in February 2014, will continue in his longtime role as chief executive officer of Candriam Investors Group in addition to his work with NYLIM International. Mr. Abou-Jaoudé continues to report to Yie-Hsin Hung, who was chairman of NYLIM International prior to her recent appointment to chief executive officer of NYLIM, a leading multi-boutique investment firm with $330 billion in assets under management. Mr. Abou-Jaoudé will be supported by current NYLIM International Vice Chairman Jeffrey Phlegar and newly appointed Vice Chairman of NYLIM International, John Grady. Ms. Hung said, “Naïm has shown incredible leadership since joining the New York Life family, where he’s recognized as the driving force behind the strong relationship Candriam has built with New York Life. The record growth that Candriam has experienced since our acquisition of the firm in February 2014 and the position it has achieved as a leading asset manager on the European stage have been achieved under Naïm’s guidance. With the engagement of Jeff and in welcoming John, I have every confidence that we have the right team in place to fulfill our vision to further develop our global asset management presence and deliver our global capabilities, particularly in Europe and Asia.” Candriam Investors Group has grown significantly since the acquisition by New York Life Investments in February 2014. Since then, assets under management (AUM) increased by 36 percent with AUM reaching €90.7 billion as of June 30, 2015. Mr. Abou-Jaoudé said, “I am very excited to take an active role in NYLIM’s international expansion efforts. As a part of one of the world’s most respected financial institutions, NYLIM is well positioned to bring its successful multi-boutique approach and suite of first class products to clients in the growing international asset management markets.” Appointed chairman of NYLIM International, Mr. Abou-Jaoudé is also chief executive officer of Candriam Investors Group since 2007 and became a vice chairman of NYLIM International in February 2014. He joined Candriam (formerly Dexia Asset Management) in 1996 where he was a member of the Executive Committee, responsible for Alternative Investments, until the end of 2006 before he rose to his appointment of chief executive officer in January 2007. Previously, he was a member of the Management Board and responsible for the Investment Management and Derivatives department at UBS Asset Management France and Alfi Gestion. Mr. Abou-Jaoudé started his career as a partner at Transoptions Finance (subsidiary of Crédit Agricole). He is a graduate of the Institute of Political Studies in Paris (IEP-Sciences Po) and holds a master’s degree in Economics and Finance from Université Paris II – Panthéon Assas. Appointed a vice chairman of NYLIM International, Mr. Grady is a senior managing director at NYLIM and serves as a senior advisor and director of Candriam Investors Group. Prior to this role, he served as senior advisor to the president of New York Life Investments Group. He joined New York Life Investments as chief financial officer in 2010 following his work at New York Life Insurance Company where he was senior vice president responsible for Mergers and Acquisitions and the Treasury Department. Previously, Mr. Grady worked at Old Mutual, most recently as executive vice president, Global Strategy and Corporate Development. He joined Old Mutual in 2002 as CFO of Old Mutual Asset Management. Mr. Grady has held various roles at CDC IXIS Asset Management, Fleet Financial Group, and The Boston Company. Mr. Grady received a Master of Business Administration from Boston University and a Bachelor of Science degree in Business Administration from Providence College. Mr. Phlegar was appointed a vice chairman of NYLIM International in February 2014. Additionally, he is chairman and chief executive officer of MacKay Shields, a fixed-income focused investment management firm and wholly-owned subsidiary of NYLIM. Mr. Phlegar joined MacKay Shields in December 2011 after 18 years of service at AllianceBernstein, where he served most recently as president of Special Opportunities and Advisory Services. From 2004-2008, he co-led AllianceBernstein’s fixed income division as executive vice president and chief investment officer. His previous roles at the firm included serving as director of U.S. Fixed Income and Insurance, director of Liquid Markets/MBS and portfolio manager for Taxable Fixed Income and Insurance. Prior to joining AllianceBernstein in 1993, he held roles with Equitable Capital Management and Dreyfus Corporation. He received a Master of Business Administration from Adelphi University and a Bachelor of Business Administration from Hofstra University.
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Industry Updates
New York Life Investment Management International names Naïm Abou-Jaoudé chairman
Wednesday, September 16, 2015
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