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New York Life hires Brian Jacobs to head US retail distribution for MainStay Investments

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MainStay Investments, a New York Life company, has appointed 25-year global asset management industry veteran Brian Jacobs as Head of US Retail Distribution. 

Jacobs will be responsible for leading retail distribution in the United States for New York Life's global asset management business, which includes the MainStay Mutual Fund Family, its alternative ETF provider, IndexIQ and select boutiques from New York Life Investment Management (NYLIM).
Reporting to Jacobs is MainStay and IndexIQ's established wholesaling and product specialist teams. Jacobs will report to Stephen Fisher, President of New York Life Investment Management and President of MainStay Investments.

“As the 26th largest global asset manager, we have focused on helping advisors achieve their client’s long term goals with our world class multi-boutique platform of broadly diversified products. Now, with over USD300 billion in assets and an industry recognised sales force, we are delighted to welcome Brian to the family,” says Fisher. “Brian’s impressive track record for building successful businesses and sales teams within the mutual fund, ETF and alternative asset management spaces makes him the optimal choice as we continue to partner with our clients to help them attain the very best long-term solutions for their clients in all market environments.” 

Before joining New York Life, Jacobs served as President at Direxion Investments, a privately held leading ETF sponsor, where he was responsible for building and diversifying the firm’s asset base. Prior to that he was a leading industry consultant at the firm he founded, Jacobs Strategic Consulting. There, he consulted with a number of major asset managers and, among other projects, structured a long-term joint venture to launch and distribute a wide range of alternative mutual funds for his client, Cliffwater LLC, with Virtus Investment Partners (VRTS). Previously, Jacobs served as CEO of Hatteras Funds, a boutique alternative investment specialist. He joined Hatteras after more than 18 years at two large asset management organisations — Eaton Vance and Allianz/PIMCO. Between 1990 and 2008, Brian led the firm's sales teams, which raised more than $150 billion in assets; he also organized and completed 24 closed-end fund IPOs.

“I’m thrilled to join New York Life, a mutual company with a record of over 170 years of stewardship and the highest possible financial strength rankings in the nation,” says Jacobs. “The firm is uniquely suited to help financial advisors and their clients achieve the outcomes they are seeking. From its range of best in class global investment strategies offered through its MainStay mutual fund family and IndexIQ, an innovative leading alternative ETF provider, New York Life has created a unique space for itself in the asset management industry and I’m very excited about the opportunity to build on this strong foundation,” Jacobs concluded.

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