Jae Yoon (pictured), 48, has been appointed to the newly created role of chief investment officer (CIO) of New York Life’s asset management subsidiary, New York Life Investment Management (NYLIM), effective immediately.
In his role as CIO, Yoon will chair the NYLIM Investment Governance Committee and partner with the portfolio teams in New York Life’s and MainStay Investments’ boutiques and affiliates to ensure that investment processes and results align with the expectations of their clients and New York Life. While bringing a level of investment oversight, his engagement will remain true to NYLIM’s multi-boutique approach where the integrity, autonomy and independence of the portfolio management teams in the firms’ boutiques and affiliates is preserved and maintained. Mr. Yoon will continue to oversee the Strategic Asset Allocation and Solutions group, which manages asset allocation portfolios and provides economic and market research insights for New York Life and its clients. Mr. Yoon reports to Yie-Hsin Hung, chief executive officer of NYLIM.
Hung says: “As NYLIM has grown into a global asset manager, it is important for us to maintain consistently high standards of governance and investment discipline in our business. Creating a dedicated CIO role is the logical next step as we build out our global management structure.”
Stephen Fisher, president of NYLIM, added, “With Jae’s deep knowledge of our firm and our investment boutiques, combined with his investment experience and institutional insights, he is extremely well positioned for this key role. We look forward to many more contributions from Jae in the years ahead.”
John Kim remains President and Chief Investment Officer of New York Life Insurance Company.
Yoon joined NYLIM as a managing director in 2005. He most recently served as the CIO of the Strategic Asset Allocation and Solutions group. Previously, he was responsible for risk management efforts at boutique affiliate MacKay Shields. Prior to joining NYLIM, Yoon was head of Quantitative Research, Analytics, and Risk Management at Western Asset Management. Previous roles include serving as head of Risk and Performance for the EMEA-Pacific regions of Merrill Lynch Investment Managers and regional head of Risk Management Control for Fixed Income and Equity Derivative Trading at J.P. Morgan Securities in Asia. Mr. Yoon earned his master’s degree in Operations Research and bachelor’s degree in Electrical Engineering from Cornell University. Yoon is a CFA charterholder and holds FINRA Series 3 and 7 registrations.